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A man is single and earned wages of $46,400. He received $410 in interest from a savings account. He contributed $490 to a tax-deferred retirement
A man is single and earned wages of $46,400. He received $410 in interest from a savings account. He contributed $490 to a tax-deferred retirement plan. He had $1380 in itemized deductions. Calculate his gross income, adjusted gross income, and taxable income. Use the table to the right for exemption and standard deduction values. Tax Rate 10% 15% 25% 28% Standard Deduction Exemption (per person) Single up to $8,925 up to $36,250 up to $87,850 up to $183, 250 $6100 $3900 Married Filing Separately up to $8,925 up to $36,250 up to $73,200 up to $111,525 $6100 $3900 I The person's gross income is $ (Simplify your answer.)
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