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Please find a and b eBook Calculator E Print Item Exercise 4-26 (Algorithmic) (LO. 4) Determine the taxable amount of Social Security benefits for the

Please find a and b

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eBook Calculator E Print Item 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. Erwin and Eleanor are married and file a joint tax return. They have adjusted gross income of $42,400, no tax-exempt interest, and $14,840 of Social Security benefits. As a result, $ 7,420 X of the Social Security benefits are taxable. b. Assume Erwin and Eleanor have adjusted gross income of $15,800, no tax-exempt interest, and $17,380 of Social Security benefits. As a result, $ 0 V of the Social Security benefits are taxable. c. Assume Erwin and Eleanor have adjusted gross income of $95,500, no tax-exempt interest, and $14,325 of Social Security benefits. As a result, $ 12,176.25 X of the Social Security benefits are taxable. Feedback Check My Work If a taxpayer's income exceeds a specified base amount, as much as 85 percent of Social Security retirement benefits must be included in gross income. The taxable amount of benefits is determined through the application of one of two formulas that utilize a unique measure of

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