Adjusted gross income (AGI) is an individual's total gross income minus specific deductions. Therefore:
Taxable income is the base which an income tax system imposes tax. It is described as adjusted gross income which is your total income minus any deductions or exemptions allowed in that tax year. Therefore:
This "question" isn't even a question. If the question is asking to calculate AGI and taxable income I can definitely help. This is what I do for a living! I am assuming this is 3 questions. 1. Find the AGI and taxable income: Gross Income $30,856 Adjustments $750 1 Exemption $8200 Deduction $2,300 AGI: $31,200 and $20,601 $30106 --- ANSWER: 30,106 (30,856-750) Taxable Income: $19,606 $29,586 and $18,505 $28,863 and $17,636 1 points--- ANSWER 19,606 2. QUESTION 5 Find the AGI and taxable income. Gross Income $67,890 Adjustments $0 3 Exemptions $24,600 Deduction $1469 AGI: $69,440 and $45,300 $68,990 and $42,831 $67,890 --- ANSWER: 67,890 Taxable Income: $41,821 $65,551 and $44,821 1 points --- ANSWER: 41,821 (67,890-24,600-1,469) 3. QUESTION 6 Find the AGI and taxable income. Gross income $19,723 Adjustments $255 1 Exemption $8200 Deduction $1430 $19,4 AGI: 19,468 (19,723-255) Taxable Income: 9,838 (19,468-8,200-1,430) Goodluck! If you need anything else feel free to reach out to me directly. Not sure if you can I'm fairly new to this. -Mike
<span>We calculate </span><span>the result of which is </span><span> </span> <span>We calculate </span><span> the result of which is </span><span>. </span> Since we get a negative number in the next column, we must take 1 from the next column and carry it over to this column. Now the number will be changed to 10.
We calculate , and the result is .
<span>We calculate </span><span> the result of which is</span><span>. </span> Therefore,