Jennifer and Jake are married and file jointly. Jennifer rec…
Jennifer and Jake are married and file jointly. Jennifer received a salary of $78,000 and Jake received a salary for $74,000. Jennifer’s employer covered $3,200 in medical and dental insurance premium. They paid state income tax of $5,000. They have one son, Max, who is 13 that they care for.Ignoring your answer to “Part A,” assume that their gross income was instead $100,000. What is their AGI for the year? Round to the nearest whole dollar amount and do not include symbols like the dollar sign or comma.Answer:
Read DetailsPaul earned a salary of $84,000 and $11,000 in income from r…
Paul earned a salary of $84,000 and $11,000 in income from renting out a townhouse he owns to a tenant. When he turned 27 this year, his parents gave him a gift certificate for $200 to go towards golf lessons for his birthday. How much gross income should he report (recognize) for the year? Round to the nearest whole dollar amount and do not include symbols like the dollar sign or comma.Answer:
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