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Ross Martin arrived at the following tax information:Tax information:
Gross Salary. $59,045
Interest Earnings. $305
Dividend Income. $265
Stamdard deductions. $12,000
Itemized deductions. $11,450
Adjustments to Income. $2,200
What amount would Ross report as taxable income?

Respuesta :

abiolataiwo2015

Answer:

$33,965

Explanation:

Calculation to determine What amount would Ross report as taxable income

Using this formula

Taxable income =Gross Salary+Dividend Income+Interest Earnings-Adjustments to Income-Itemized deductions-Standard deductions

Let plug in the formula

Taxable income = $59,045 + $265+ $305 − $2,200 − $11,450 − $12,000

Taxable income= $33,965

Therefore The amount that Ross would report as taxable income is $33,965

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