During 2012, 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 2012, 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

We need to add up Marvin's gross income which includes his wages, interest income, and taxable refunds.

Wages: $40,000 
Interest Income: $2,000 
Taxable Refunds: $2,000

Adding them up will give us $44,000. Therefore, the correct answer is C) $44,000.

During 2012, Marvin Had the Following Transactions: Marvin's AGI