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25 September, 01:41

George Washburn had earnings from his salary of $42,200, interest on savings of $975, a deductable contribution to an IRA of $1,550, and dividends from mutual funds of $645. George's adjusted gross income (AGI) would be

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  1. 25 September, 01:49
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    adjusted gross income (AGI) = $42270

    Explanation:

    given data

    salary = $42,200

    interest on savings = $975

    deductable contribution = $1,550

    mutual funds = $645

    solution

    we get here adjusted gross income (AGI) that is express as

    adjusted gross income (AGI) = salary + interest on savings - deductable contribution + deductable contribution ... 1

    adjusted gross income (AGI) = $42,200 + $975 - $1,550 + $645

    adjusted gross income (AGI) = $42270
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