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The following facts apply to Newton, a single individual, for 2016: W-2 income............................................................$110,000 Traditional IRA contribution.............................................5,000 Coverdell Education Savings Account

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The following facts apply to Newton, a single individual, for 2016:
W-2 income............................................................$110,000
Traditional IRA contribution.............................................5,000
Coverdell Education Savings Account contribution..................2,000
State Qualified Tuition plan (529 plan) contribution..................3,000
Qualifying medical expenses...........................................12,000
Newton does not participate in any pension or profit sharing plan other than the traditional IRA. Considering only the foregoing facts, what should Newton's adjusted gross income be for 2016?
a. $104,000
b. $103,000
c. $102,000
d. $105,000

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I LIKE TO TEACH STUDENTS. SO, I START MYSELF AS A PRIVATE TUTOR. I TEACH STUDENTS OF DIFFERENT CLASSES. I HAVE ALSO DONE BACHELOR OF EDUCATION DEGREE(B.ED). DURING THIS COURSE I HAD TO TEACH IN A SCHOOL. SO I HAVE A GOOD EXPERIENCE IN TEACHING.
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South Western Federal Taxation Individual Income Taxes 2017

South Western Federal Taxation Individual Income Taxes 2017

ISBN: 9781305873988

40th Edition

Authors: William H. Hoffman, David M. Maloney, William A. Raabe, James C. Young, Nellen

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Question Posted: March 13, 2018 09:09:30
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