excluded capital gains
Question 5.5.( TCO 2) George Washburn had earnings from his salary of $ 44,000, interest on savings of $ 800, a contribution to a traditional individual retirement account of $ 2,000, and dividends from mutual funds of $ 600. George ' s adjusted income( AGI) would be
$ 43,400. $ 44,000. $ 45,400. $ 42,000. $ 42,800.
Question 6.6.( TCO 2) _____ can be calculated as a result of various items being subtracted from gross income, such as individual retirement account contributions and alimony payments.
Adjusted gross income Taxable income Earned income Passive income Total exclusions
Question 7.7.( TCO 2) When filing your taxes, a set amount on which no taxes are paid is called _____.
itemized deductions withholding