Kevin, while calculating his tax adjustments, notes that he can make adjustments of $3,435 for contributions to his retirement plan, $3,393 for business losses, and $1,128 for business expenses. If Kevin's gross income is $45,942, what is his adjusted gross income?

a. $53,898

b. $40,242

c. $41,421

d. $37,986

Question

Salvatore Avila

Mathematics

8 December, 00:38

Kevin, while calculating his tax adjustments, notes that he can make adjustments of $3,435 for contributions to his retirement plan, $3,393 for business losses, and $1,128 for business expenses. If Kevin's gross income is $45,942, what is his adjusted gross income?

a. $53,898

b. $40,242

c. $41,421

d. $37,986

+3

Answers (1)

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Elsa Marquez · Answer 1

Gross income is An individual's total personal income, before accounting for taxes or deductions. so the adjusted gross income can be calculated using

AGI = GI - D

Where AGI is the adjusted gross income

GI is the gross income

D are the deductions

AGI = 45942 - (3435 + 3393 + 1128)

AGI = $ 37,896