Question

What is the taxable income on an adjusted gross income of $112,333 with four exemptions

and $14550 in deductions. Exemptions are valued at $3850.

Answer 1

9514 1404 393

Answer:

$82,383

Explanation:

$112,333 - 14,550 - 4×3850 = $82,383 . . . taxable income

__

With no other information, we assume the taxable income is the gross income less the deductions and exemptions.