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Exercise 4-26 (Algorithmic) (LO. 4) Determine the taxable amount of Social Security benefits for the following situations. If required, round your answers to the
Exercise 4-26 (Algorithmic) (LO. 4) Determine the taxable amount of Social Security benefits for the following situations. If required, round your answers to the nearest dollar. If an amount is zero, enter "0". a. Tyler and Candice are married and file a joint tax return. They have adjusted gross income of $39,800 before considering their Social Security benefits, no tax-exempt interest, and $13,930 of Social Security benefits. As a result, $ of the Social Security benefits are taxable. b. Assume Tyler and Candice have adjusted gross income of $18,800 before considering their Social Security benefits, no tax-exempt interest, and $20,680 of Social Security benefits. As a result, of the Social Security benefits are taxable. c. Assume Tyler and Candice have adjusted gross income of $109,000 before considering their Social Security benefits, no tax-exempt interest, and $16,350 of Social Security benefits. As a result, $ of the Social Security benefits are taxable.
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