chapter 4

every taxpayer in the United States pays the same tax rate on their taxable income. which of the following equations represent the correct formula for computing a taxpayer's taxable income? Check all that apply. Taxable income = Total income-Exclusions. Adjustments to income-Deductions-Exemptions Taxable income = Gross income-Adjustments to income-Deductions-Exemptions Taxable income Adjusted gross income . (Deductions-Exemptions) D Taxable income Total income Exclusions Taxable income Adjusted gross income - Tax credits Taxable income = Total income + Deductions and Exemptions Taxable income = Gross income . Adjustments Taxable income Gross income . Exclusions Which of the following must be included in the computation of a taxpayer's taxable income