FORMULA TO CALCULATE MINIMUM TAXABLE INCOME IN EXCEL

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Please i want a formula that can be applied on gross income to determine taxable income and at the same time return the result to the gross income if the taxable income will be less than 300,000.

Taxable income = gross income minus (20% of gross income + 200,000)

My expectation: If the result is less than 300,000 , then let the result be returned to the gross income value and coloured red.

Kindly assist Asap.

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Try,

=if(GI-(0.2*GI+200000)<300000, GI, GI-(0.2*+200000))

As for the colour, you will need to apply conditional formatting for the cell.

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Thanks Cathy for your response. However, I applied the formular and it returned what i think is a wrong answer. Could be kind again to crosscheck?
olekachim (rep: 2) Nov 28, '18 at 2:12 pm
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