Question

Ross had an annual earned income of $48,000 last year. He also had a passive income of $3,500, and capital gains of $4,000. What was Ross' total gross income for the year?

Answer 1

Answer:

Total gross income = $55,500

Explanations:

Annual earned income = $48,000

Passive income = $3500

Capital gains = $4000

Total gross income = Annual earned income + Passive income + Capital gains

Total gross income = $48000 + $3500 + $4000

Total gross income = $55,500