Joe is a single, self-employed individual who owns his own business. During 2023, Joe reported ($200,000) gross
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Joe is a single, self-employed individual who owns his own business. During 2023, Joe reported \($200,000\) gross income and \($60,000\) of business expenses. He also paid \($30,000\) in alimony (divorced in 2017) to his former spouse, \($4,000\) mortgage interest on his personal home, \($6,000\) for health insurance premiums, and \($2,000\) for medicine and doctors. Ignoring any self-employment tax on the business income, what is Joe’s AGI?
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Related Book For
Pearsons Federal Taxation 2024 Individuals
ISBN: 9780138238100
37th Edition
Authors: Mitchell Franklin, Luke E. Richardson
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