Addison is an unmarried individual who earned a gross income of $69,192 last year. She made $4,902.79 in IRA contributions, donated $1,956 to her favorite charities and paid $1,475.25 in mortgage interest. A standard deduction is $5,700 for an unmarried individual. If Addison’s exemption is $3,650, what is her taxable income?
$64,744.79
$61,313.54
$68,488.79
$54,939.21

Question

Addison is an unmarried individual who earned a gross income of $69,192 last year. She made $4,902.79 in IRA contributions, donated $1,956 to her favorite charities and paid $1,475.25 in mortgage interest. A standard deduction is $5,700 for an unmarried individual. If Addison’s exemption is $3,650, what is her taxable income?
$64,744.79 
$61,313.54 
$68,488.79 
$54,939.21

anonymous · Answer

I came up with 54,939.21