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use first picture to answer 25 through 27 Use the following information to answer questions 25 through 31 . Ingrid earns $24 per hour and
use first picture to answer 25 through 27
Use the following information to answer questions 25 through 31 . Ingrid earns $24 per hour and works 40 hours per week, 50 weeks of the year (she takes 2 weeks for vacation but it's unpaid). She gets paid every other Thursday for 25 paychecks in the year 2021 . She contributed $200 from each paycheck to her 401(k) and has no other adjustments to her gross income. She does not own a home, so she has no mortgage interest and pays no property taxes, She paid $267 to the DMV to register her car and has no other applicable tax deductions. She will be filing her taxes as a single person. For 2021 , the standard deduction for a person filing single is $12,550. Federal Income Tax Brackets (2021) Filing Single 1 pts What is Ingrid's gross annual income for 2021? Hint: $24 per hour for 40 hour per week for 50 weeks. Question 26 2 pts What is Ingrid's Adjusted Gross Income (AGI) for 2021? Hint: Ingrid's gross income is adjusted by her $200 contribution to her 401(k) account from each of her 25 paychecks for the year, and she has no other applicable adjustments. Question 27 2 pts What is Ingrid's taxable income for 2021 Step by Step Solution
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