Question

Georgia Huckabee has an adjusted gross income of

​$100,415
and itemized deductions that total
$12,042.
Georgia can claim 3
exemptions. What is her taxable​ income? (One exemption=​$4000.)
Question content area bottom
Part 1
A.
$88,373
B.
$64,289
C.
​$76,373
D.
​$88,415

Answer 1

To calculate Georgia Huckabee's taxable income, we need to follow these steps:

1. Start with Georgia's adjusted gross income: $100,415.

2. Subtract her itemized deductions: $12,042.

- Adjusted gross income: $100,415 - $12,042 = $88,373.

3. Determine the value of the exemptions. Georgia can claim 3 exemptions, and each exemption is worth $4,000.

- Total exemption value: 3 x $4,000 = $12,000.

4. Subtract the total exemption value from the adjusted gross income.

- Taxable income: $88,373 - $12,000 = $76,373.

Therefore, Georgia Huckabee's taxable income is $76,373.

The correct answer is C. $76,373