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Business, 31.03.2021 03:00 rileyeddins1010

Suppose your friend earned wages of $93,260, received $1340 in interest from a savings account, and contributed $6300 to a tax- deferred retirement plan. She is entitled to a personal exemption of $3500 and a standard deduction of $7800. The interest on her home mortgage was $4500, she contributed $2500 to charity, and she paid $1359 in state taxes. Required:
Find the gross income, the adjusted gross income, and the taxable income. Base the taxable Income on the greater of a standard deduction or an itemized deduction.

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Suppose your friend earned wages of $93,260, received $1340 in interest from a savings account, and...
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