Adjusted Gross Income Compared to Taxable Income

Related BrainMass Solutions

• Various Taxation Questions

  Assuming an adjusted gross income of $40,000, what is their taxable income for 2010?

• We are identifying various deductions such as itemized deduc

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• Compute 2008 taxable income for Joe and Jane, and Marie

  Assuming an adjusted gross income of $40,000, what is their taxable income for 2008? 2. Compute Marie's taxable income for 2008, assuming she is single and claims two dependent children.

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  If they have adjusted gross income of $90,000 and itemized deductions of $10,000. What is their taxable income for 2010?

• What are the differences between the following components of

  Your taxable income is your adjusted gross income, less additional deductions and credits that are allowed, which comes down to your total taxable income. An example of a tax deduction would be child care expenses.

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  Taxable income is generally described as gross income or adjusted gross income minus any deductions, exemptions or other adjustments that are allowable in that tax year.

• Compute Adjusted Gross Income (AGI) for Amir

  378057 Compute Adjusted Gross Income (AGI) for Amir for the year in which he retired. Adjusted Gross Income. Amir, who is single, retired from his job this year.

• Taxable income and Liability

  What is the amount of their gross income? b.     What is the amount of their adjusted gross income? c.       What is the amount of their taxable income? d.   

• Components of Taxable Income

  Deductions for AGI and deductions from AGI Gross income and AGI AGI and taxable income Tax deduction and tax credit Personal exemption and dependency exemption Deductions for AGI and deductions from AGI : Deductions for adjusted gross income (AGI)