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Question 2. (TCO 2) Interest earnings of $2,400 from a taxable
investment for a person in a 28% tax bracket would result in after-tax
earnings of
Question 3.3. (TCO 2) _____ can reduce taxable income.
Portfolio income
Tax credits
Exclusions
Passive income
Earned income
Question 4.4. (TCO 2) Whenever an individual takes on a personal
effort and receives money, this is reported as _____ income.
passive
earned
portfolio
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.