Mr. and Mrs. Weiss had the following income items. Mr. Weiss's salary ................................................................. $105,000 Mrs. Weiss's earnings
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Mr. and Mrs. Weiss had the following income items.
Mr. Weiss's salary ................................................................. $105,000
Mrs. Weiss's earnings from self-employment .................. 50,000
The income tax deduction for Mrs. Weiss's SE tax was $3,532. Mr. Weiss contributed the maximum to his Section 401(k) plan, and Mrs. Weiss contributed the maximum to her Keogh profit-sharing plan. Both spouses contributed $2,750 to their IRAs. Compute their AGI.
Assume the taxable year is 2018.
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Related Book For
Principles Of Taxation For Business And Investment Planning 2019 Edition
ISBN: 9781260161472
22nd Edition
Authors: Sally Jones, Shelley C. Rhoades Catanach, Sandra R Callaghan
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