Elton Weiss and Reyna Herrera-Weiss are married and report the following income items: Elton's salary $...
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Elton Weiss and Reyna Herrera-Weiss are married and report the following income items: Elton's salary $ 254,000 50,000 Reyna's Schedule C net profit The income tax deduction for Reyna's SE tax was $3,532. Elton contributed the maximum to a Section 401(k) plan, and Reyna contributed the maximum to a SEP plan. Both spouses contributed $2,750 to their IRAs. 304,000 Required: Compute their AGI. Note: Round your intermediate calculations to the nearest whole dollar amount. AGI م Elton Weiss and Reyna Herrera-Weiss are married and report the following income items: Elton's salary $ 254,000 50,000 Reyna's Schedule C net profit The income tax deduction for Reyna's SE tax was $3,532. Elton contributed the maximum to a Section 401(k) plan, and Reyna contributed the maximum to a SEP plan. Both spouses contributed $2,750 to their IRAs. 304,000 Required: Compute their AGI. Note: Round your intermediate calculations to the nearest whole dollar amount. AGI م
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Answer rating: 100% (QA)
Eltons Salary 254000 Reynas Schedule C Net Profit 5000... View the full answer
Related Book For
Equity Asset Valuation
ISBN: 978-0470571439
2nd Edition
Authors: Jerald E. Pinto, Elaine Henry, Thomas R. Robinson, John D. Stowe, Abby Cohen
Posted Date:
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