Question: Mr and Mrs WD had the following income items Mr

Mr. and Mrs. WD had the following income items:
Mr. WD’s salary ……………………………………… $105,000
Mrs. WD’s earnings from self-employment …………. 50,000
The income tax deduction for Mrs. WD’s SE tax was $3,532. Mr. WD contributed the maximum to his Section 401(k) plan, and Mrs. WD contributed the maximum to her Keogh profit-sharing plan. Both spouses contributed $2,750 to their IRAs. Compute their AGI.

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  • CreatedNovember 03, 2015
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