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July 1, 2015

Homework Help: consumer math

Posted by Megan on Thursday, August 9, 2012 at 2:41pm.

The Mannings file a tax return showing $125000 in earned income, $3288 from interest income, and they have a tax credit of 1% of their earned income. They claim 5 exemptions of $2500 each, one head of household exemption of $10500, pre-tax medical deductions of $125 weekly, and a pre-tax retirement contribution of $100 weekly. What is their adjusted gross income?

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