You and your spouse have earned salary and wages of $41,750. In addition you have municipal bond interest income of $600 and savings account and certificate of deposit interest income of $800. You paid a total of $600 in interest on your student loan
Using only this information, what is your adjusted gross income for tax purposes?
A) $43,150
B) $42,550
C) $42,350
D) $41,950
Answer: D
You might also like to view...
Standard costs are:
A. Rarely achieved. B. Actual costs incurred to produce a specific product or perform a service. C. Uniform among companies within an industry. D. Established by the IMA. E. Preset costs for delivering a product or service under normal conditions.
An increase from 80% to 90% in customer retention would have what effect on the average customer life?
A) an increase of 1 year B) an increase of 2 years C) an increase of 5 years D) an increase of 10 years E) an increase of 20 years
Which of the following statements is true of the challenges faced by organized retailing in China?
A. Stringent regulations on profit margins discourage capitalism. B. Retailers cannot rely on domestic products as their quality is low. C. An unstable political scenario increases the risk associated with direct investments. D. Managerial talent is becoming more difficult to find and retain. E. Government impedes foreign investment in retailing.
Choose the correct word in parentheses. If Thomas (was, were) to join the team, we would have five good runners