Solution:
Caclualte E's AGI and taxable income
Particulars | Amount |
Salary income | $75,200 |
Part time income | $700 |
Total income | $75,900 |
Less: Moving expenses | $(1,200) |
Student loan (limited to 2,000) | $(2,000) |
Adjusted grosss income(AGI) | $75,100 |
Less:Standard deduction | $(6,300) |
Personal exemption | $(4,050) |
Taxable income | $64,750 |
Hence, E's AGI and taxable income is $75,100 and $64,750 respectively
This year Evan graduated from college and took a job as a deliveryman in the city,...
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