Business, 10.03.2020 18:01 amanquen35

Marsha is single, had gross income of $50,000, and incurred the following expenses:. Charitable contribution $2,000 Taxes and interest on home 7,000 Legal fees incurred in a tax dispute 1,000 Medical expenses 3,000 Penalty on early withdrawal of savings 250Her AGI is:. a. $39,750 b. $40,000 c. $40,750. d. $49,750 e. None of these choices are correct

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Answer from: ayoismeisalex

d. $49,750

Explanation:

Marsha is single, had gross income of $50,000, and incurred the following expenses: Charitable contribution $2,000 Taxes and interest on home 7,000 Legal fees incurred in a tax dispute 1,000 Medical expenses 3,000 Penalty on early withdrawal of savings 250Her AGI is:d. $49,750 The Interest which is used to buy or carry tax exempt securities is not deductible.Only 20% of the adjusted gross income limitation is applied to certain contributions made to private foundations.Married couple must be,filing a separate return, and their spouse is itemizing.

Answer from: Quest

1 all nations face the problem of scarcity because there are limited resources and unlimited wants. nations do not have enough factors of production to produce everything that their population wants. entrepreneurial resources initiate businesses to make new goods and services; labor resources produce goods and services.

2 there are four factors of production: natural resources, labor resources, capital resources, and entrepreneurial resources. natural resources are raw materials from nature that are used to produce goods. trees, water, and grains are natural resources. some natural resources, such as wheat and cattle, are renewable

3 wants

things that you do not need to have in order to survive, but would like to have

needs

things that you must have in order to survive

goods

physical products

services

tasks that a business perform for customers

resources

items that people can use to make or obtain what they need or want

determine

to settle or decide by choice of alternatives or possiblities

4 i really dont know

Answer from: Quest

answer; institution;

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Marsha is single, had gross income of $50,000, and incurred the following expenses:. Charitable cont...

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