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AGummiBear55
Group Title
CHECK MY WORK? :)
(Q) Jeffrey earned a gross income of $78,350 last year. He made $2,489.78 in student loan interest deductions, donated $4,294 to his favorite charities and paid $3,571.32 in home mortgage interest. Jeffrey claims a standard deduction of $11,400 for himself and his nonworking spouse. If their exemption is $7,300, what is their taxable income?
A. $49,294.40
B. $53,588.90
C. $57,160.22
D. $60,694.90
This is my work:
78350  2489.78 = 75,860.22  11400  7300 = 60,160.22.
I don't know what I'm doing wrong, my answer doesn't match the multiple choice answers!
 one year ago
 one year ago
AGummiBear55 Group Title
CHECK MY WORK? :) (Q) Jeffrey earned a gross income of $78,350 last year. He made $2,489.78 in student loan interest deductions, donated $4,294 to his favorite charities and paid $3,571.32 in home mortgage interest. Jeffrey claims a standard deduction of $11,400 for himself and his nonworking spouse. If their exemption is $7,300, what is their taxable income? A. $49,294.40 B. $53,588.90 C. $57,160.22 D. $60,694.90 This is my work: 78350  2489.78 = 75,860.22  11400  7300 = 60,160.22. I don't know what I'm doing wrong, my answer doesn't match the multiple choice answers!
 one year ago
 one year ago

This Question is Closed

Zofia1 Group TitleBest ResponseYou've already chosen the best response.1
i think its A
 one year ago

AGummiBear55 Group TitleBest ResponseYou've already chosen the best response.0
Really? How so? I tried the problem again but I keep getting 60,160.22!
 one year ago

Zofia1 Group TitleBest ResponseYou've already chosen the best response.1
i said i think!
 one year ago
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