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The gross income of a taxpayer for the taxable year includes his salary of $ 12,400; commissions of $27,750 and interest of $440. The adjustments
The gross income of a taxpayer for the taxable year includes his salary of $ 12,400; commissions of $27,750 and interest of $440. The adjustments to income that this taxpayer can make are the contribution of $ 2,000 to a retirement plan and a penalty of $126 for a withdrawal from that account. Calculate:
a)The gross income of that taxpayer
b)The taxpayer's adjusted gross income
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