The question is what is the less adjustments, deductions, and exemptions, then what is the taxable income, then finally whats the number if he used no loophole. This was all of the information that was given to me to answer this question.

In the News: The Obamas' Taxes Gross Income Wages Interest Dividends Tax refunds Book royalties Capital loss Trust income Deductions S 395,188 State/local taxes 8,066 Property taxes 9,997 Mortgage interest 1,151 Charity $ 52,527 25,742 49,945 245,075 Total allowed $ 373,289 1,382,889 (3,000) 1,323 Total income $1,795,614 Adjustments Self-employment tax Pension contribution $14,600 $1,340,207 $ 438,949 Exemptions $ 18,518Taxable income 49,000 Tax $ 67,518 Adjusted Gross Income $1,728,096 Source: The White House (2010 returns) Given the above table of information about President Obama's 2010 taxes, complete the table and answer thee question (Note: the highest marginal tax rate in 2010 was 35%, and was effective on incomes for married couples who file jointly above $373,650) 2010 with "loopholes" 2010 without "loopholes" 1,795,614 Total Income 1,795,614 $ Less adjustments 455,407 deductions, and exemptions Taxable Income 1,340,207 How much more income tax would President Obama have paid in 2010 if he had used no "loopholes"? Hint: (difference in tax) = (difference in taxable income)"(marginal rate) Instructions: Enter your response rounded to the nearest whole number