question 21 (3.3 points) saved your gross income is $175,597.54. you have student loan interest of…

question 21 (3.3 points) saved your gross income is $175,597.54. you have student loan interest of $1,583.00, and you deposited $1,350.00 total into your tax - deferred retirement account. what is your adjusted gross income? enter the dollar amount rounded to the nearest cent. your answer:

question 21 (3.3 points) saved your gross income is $175,597.54. you have student loan interest of $1,583.00, and you deposited $1,350.00 total into your tax - deferred retirement account. what is your adjusted gross income? enter the dollar amount rounded to the nearest cent. your answer:

Answer

Explanation:

Step1: Identify deductions

Deductions are student - loan interest and retirement deposit.

Step2: Calculate total deductions

Total deductions = Student loan interest+ Retirement deposit = $1583 + 1350=$2933$.

Step3: Calculate adjusted gross income

Adjusted gross income = Gross income - Total deductions = $175597.54−2933=$172664.54$.

Answer:

$172664.54$