Question

Find the AGI (Adjusted Gross Income) and taxable income:

a) $30,106 and $15,406
b) $28,556 and $16,906
c) $28,556 and $16,156
d) $30,106 and $20,006

Answer 1

To find the AGI (Adjusted Gross Income) and taxable income, subtract the deductions and exemptions from the adjusted gross income. The correct answer is (b) $28,556 and $16,906.

Step-by-step explanation:

To find the AGI (Adjusted Gross Income) and taxable income, we need to use the formula:
taxable income = adjusted gross income - (deductions and exemptions)

From the given options:

a) $30,106 and $15,406

b) $28,556 and $16,906

c) $28,556 and $16,156

d) $30,106 and $20,006

We can conclude that the correct answer is (b) $28,556 and $16,906.