your gross income is $71,699.45. you have student loan interest of $2,852.25, and you deposited $4,250.00…

your gross income is $71,699.45. you have student loan interest of $2,852.25, and you deposited $4,250.00 total into your tax - deferred retirement account. what is your adjusted gross income? enter the dollar amount rounded to the nearest cent. your answer: answer

your gross income is $71,699.45. you have student loan interest of $2,852.25, and you deposited $4,250.00 total into your tax - deferred retirement account. what is your adjusted gross income? enter the dollar amount rounded to the nearest cent. your answer: answer

Answer

Explanation:

Step1: Identify deductions

Deductions are student - loan interest and retirement account deposit.

Step2: Calculate total deductions

Total deductions = $2852.25 + 4250.00=7102.25$

Step3: Calculate adjusted gross income

Adjusted gross income = Gross income - Total deductions = $71699.45−7102.25 = 64597.20$

Answer:

$64597.20$