Question

George Washburn had earnings from his salary of $42,200, interest on savings of $975, a deductable contribution to an IRA of $1,550, and dividends from mutual funds of $645. George's adjusted gross income (AGI) would be

Answer 1

Answer:

adjusted gross income (AGI) = $42270

Explanation:

given data

salary = $42,200

interest on savings  = $975

deductable contribution = $1,550

mutual funds = $645

solution

we get here adjusted gross income (AGI) that is express as

adjusted gross income (AGI) = salary  + interest on savings - deductable contribution + deductable contribution  .....................1

adjusted gross income (AGI) = $42,200 + $975 - $1,550 + $645

adjusted gross income (AGI) = $42270