antonio is single, earned wages of $48,500, received $1700 in interest from a savings account, contributed…

antonio is single, earned wages of $48,500, received $1700 in interest from a savings account, contributed $2900 to a tax - deferred retirement plan, and took the standard deduction. find the gross income, adjusted gross income, and taxable income.\ntax rate single married filing jointly married filing separately head of household\n10% up to $9950 up to $19,900 up to $9950 up to $14,200\n12% up to $40,525 up to $81,050 up to $40,525 up to $54,200\n22% up to $86,375 up to $172,750 up to $86,375 up to $86,350\n24% up to $164,925 up to $329,850 up to $164,925 up to $164,900\n32% up to $209,425 up to $418,850 up to $209,425 up to $209,400\n35% up to $523,600 up to $628,300 up to $314,150 up to $523,600\n37% above $523,600 above $628,300 above $314,150 above $523,600\nstandard deduction $12,550 $25,100 $12,550 $18,800\nantonios gross income was $ 50200. (simplify your answer.)\nantonios adjusted gross income was $ 47300. (simplify your answer.)\nantonios taxable income was $. (simplify your answer.)
Answer
Explanation:
Step1: Recall the formula for taxable income
Taxable income = Adjusted gross income - Standard deduction.
Step2: Identify the adjusted gross income and standard deduction
Adjusted gross income is $47300$ and for single - filers, the standard deduction is $12550$.
Step3: Calculate the taxable income
$47300 - 12550=34750$.
Answer:
$34750$