Daniel Simmons arrived at the following tax information: Gross salary, $62,250 Interest earnings, $75 Dividend income, $140 One personal exemption, $4,050 Itemized deductions, $7,000 Adjustments to income, $850 What amount would Daniel report as taxable income?

Daniel should report $50,565 as taxable income

Explanation:

Gross salary $62,250

Interest earnings $75

Dividend income $140

One personal exemption $4,050

Itemized deductions $7,000

Adjustments to income $850

Taxable Income= Gross profit + Dividend Income + Interest Earning - Adjustment to Income - One Exemption - Itemized Deduction

T.I = 62,250 + 140 + 75 - 850 - 4050 - 7000

T.I.= $50,565

answer; /// the above statement is (true); good luck

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