Which of the following equations represent the correct formula for computing a taxpayer's taxable income Check all that apply.
• Taxable income = Total income - Exclusions- Adjustments to income Deductions - Exemptions • Taxable income = Gross income Adjustments to income - Deductions - Exemptions
• Taxable income = Adjusted gross income - (Deductions • Exemptions)
• Taxable income = Total income - Exclusions
• Taxable Income = Adjusted gross income - Tax credits
• Taxable income = Total income Deductions and Exemptions
• Taxable Income = Gross Income - Adjustments
• Taxable income = Gross income - Exclusions
Which of the following equations represent the correct formula for computing a taxpayer's taxable income?