During 2017, Marvin had the following transactions: Marvin's AGI is:

A)$32,000.
B)$38,000.
C)$44,000.
D)$56,000.
E)$64,000.

Question

During 2017, Marvin had the following transactions: Marvin's AGI is:

A)$32,000. 
B)$38,000. 
C)$44,000. 
D)$56,000. 
E)$64,000.

Quizplus · Accepted Answer

There is not enough information provided about Marvin's transactions to determine his AGI with certainty, but we can make an educated guess based on the fact that the standard deduction for single taxpayers in 2017 was $6,350. Assuming Marvin had no deductions or credits that would reduce his taxable income below the standard deduction, we can estimate his AGI by adding $6,350 to the highest income option provided: $38,000. This gives us an AGI of $44,350, which is closest to choice B.

During 2017, Marvin Had the Following Transactions: Marvin's AGI Is