Question

1. A. Determine Adjusted Gross Income = $ 2. B. Determine the amount of Net Income...

1. A. Determine Adjusted Gross Income = $

2. B. Determine the amount of Net Income Subject to Contribution = $

Taxpayer Data:

Withholding vouchers 499R / 2 / W-2PR 2019 = $ 495.00

Salaries: $ 16,837.00

Taxpayer status: Individual Taxpayer.

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Answer #1

1.The following calculation may be used to determine Adjusted Gross Income (AGI)

AGI = Income - Specific Tax Deductions

Since there shows no deduction AGI shall be the Total income receipted =$ 16837

2. Net Income subject to contribution may be reffered as the amount received by an individual after taxes and other deductions.

Here the calculation shall be as follows :

Total salaries =$ 16837

Tax deducted =$ 495

Net income subject to contribution =$ 16837- $ 495= $ 16342

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