Find the AGI and taxable income:
Gross Income $55,555
Adjustments $1500 2
Exemptions $16,400
Deduction $1854

$57,055 and $38,801
$56,203 and $28,981
$55,555 and $19,754
$54055 and $35801

Respuesta :

54055 and 35801 (I just did the quiz and this is the correct answer) 

Solution:

The given information Regarding Person Income and expenditure is

Gross Income $55,555  

Adjustments $15002

Exemptions $16,400  

Deduction $1854

AG I = Adjustable Gross income =Total income[ Gross Income+Exemption] - [Adjustment + Deduction]

= 55,555 +16,400 - [15002+1854]

=  71,955 - 16,856

=     $ 55099

Taxable income =Total Income that is shown for paying tax

           =  $ 55,555 + Exemption

           = $ 55,555 + $ 16,400

            = $71,955