Billy Bob, a single retired individual, has an adjusted gross income of $12,000, receives social...
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Accounting
Billy Bob, a single retired individual, has an adjusted gross income of $12,000, receives social security benefits of $7,000 a year, and has $1,500 of tax-exempt interest from a mutual fund. a. Calculate Billy's modified adjusted gross income? b. provisional income? c. Taxable amount of Social security
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