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Ross Martin arrived at the following tax information: Tax Information Gross salary $ 57,450 Interest earnings...

Ross Martin arrived at the following tax information: Tax Information Gross salary $ 57,450 Interest earnings 250 Dividend income 155 Standard deduction 12,000 Itemized deductions 11,340 Adjustments to income 1,650 What amount would Ross report as taxable income?

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Answer #1

The taxable income is computed as shown below:

= $ 57,450 + $ 250 + $ 155 - $ 12,000 - $ 11,340 - $ 1,650

= $ 32,865

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