can some one tell me what i did wrong here?
You are single and employed full-time as a manager. You have no children. Your gross income is $49,500. You
contributed $1,800 to an IRA account. You paid $2,985 in home mortgage interest. You made $750 in charitable donations.
You spent $2,700 in non-reimbursed medical expenses beyond the 7.5% of adjusted gross income. Number of Allowances
Federal Withholding 0 $7,682.48 1 $6,757.40 2 $5,832.58 PART 2: Total : 2 Part 3: Subtract any adjustments from
your gross income to determine your adjusted gross income, or AGI. Determine if you

Question

can some one tell me what i did wrong here?
 You are single and employed full-time as a manager. You have no children. Your gross income is $49,500. You 
contributed $1,800 to an IRA account. You paid $2,985 in home mortgage interest. You made $750 in charitable donations. 
You spent $2,700 in non-reimbursed medical expenses beyond the 7.5% of adjusted gross income. Number of Allowances	
Federal Withholding 0	 $7,682.48 1	 $6,757.40 2	 $5,832.58 PART 2: Total : 2 Part 3: Subtract any adjustments from 
your gross income to determine your adjusted gross income, or AGI. Determine if you

anonymous · Answer

Determine if you will take a standard or itemized 
deduction based on your given scenario. If you take a standard deduction, use $5,700 if you are single and $11,400 if you 
are married. Calculate the value of your exemptions. Use $3,650 for each person supported by the income reported. Subtract 
the deductions and exemptions from the adjusted gross income (AGI). This is your taxable income. 49500= total gross income 
-1800 for ira -2985 for mortgage -750 for donations --------------------- 43965 -5700 standard deduction ------------------
------- 38265 I will choose standard. My AGI should be 38265 PART 4: Over $34,000 but not over $82,400	$4,681.25 plus 25% 
of the excess over $34,000 PART 5: Provide the number of allowances and amount of federal withholding you claimed at the 
beginning of the activity. Explain why you claimed this number of allowances. The amount claimed 5747.50 Explain how you 
would determine if you owed the federal government money or if you would receive a refund. If the amount was negative they 
would owe you money. Explain how you would calculate the amount of your payment to the government or the amount of your 
refund. Provide the solution. you would do this by first determining your income then factoring in the exemptions and the 
deductions. After calculating the amount of money you must pay to the government or receive as a refund, would you 
reconsider how many personal allowances you claimed on the W-4? Why or why not? This would be because either you have a 
choice to claim or the claim isnt worth it.