Homework Help: Finance

Posted by Marie on Monday, January 31, 2011 at 2:52pm.

Compute taxable income.

gross salary 46,660
interest earnings 225.00
dividend income 80.00
one personal exemption 3,400
itemized deductions 7,820
adjustments to income 1,150

What amount would be reported as taxable income?

Finance - helper, Monday, January 31, 2011 at 3:41pm
Income----------46,660
Interest-----------225
Dividends-----------80
Income Adj-------1,150
Sub Total-------48,115
Less Item Ded----7,820
Sub Total-------40,295
Less Exempt------3,400
Taxable Income--36,895

Check my math

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