Remember to estimate whenever you use your calculator.

Find the Adjusted Gross Income $($AGI$)$ and taxable income.

Gross income: $$40,876$

Gross income: $$120,000$

Adjustments: $$1,500$

Adjustments: $$25,328$

$1$ Exemption: $$3,650$

$2$ Exemptions: $$7,300$

Deduction: $$5,700$

AGI $=$

Deduction: $$14,350$

AGI $=$

Taxable income $=$

Taxable income $=$

How much tax is owed or how much of a refund can be expected?

$3.$ Tax withheld: $$2,110\mathrm{.}35$

$4.$ Tax withheld: $$5,817\mathrm{.}89$

Actual tax: $$2,407$

Actual tax: $$4,829$

$$

$$

$5.$ Tax withheld: $$8,324\mathrm{.}13$

$6.$ Tax withheld: $$4,976\mathrm{.}54$

Actual tax: $$7,899$

Actual tax: $$5,080$

$$

$$