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Kim Jung is a U.S. citizen working for Byte Corporation. For the last six years Kim has been stationed in the company's Tokyo office. Required:
Kim Jung is a U.S. citizen working for Byte Corporation. For the last six years Kim has been stationed in the company's Tokyo office. Required: a. Compute AGI if Kim's only income for the year is $74,750 in wages. b. Compute AGI if Kim's only income for the year is $188,000 in wages. c. Under Japanese law, Kim is a permanent resident and must pay Japanese income tax on the salary earned in Tokyo. Assuming that the Japanese individual tax rates exceed the U.S. rates, will Kim owe U.S. tax on any portion of the salary? Complete this question by entering your answers in the tabs below. Compute AGI if Kim's only income for the year is $74,750 in wages
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