Joe is a single, self-employed individual who owns his own business. During 2022, Joe reported $200,000 gross
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Joe is a single, self-employed individual who owns his own business. During 2022, 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 2023 Comprehensive
ISBN: 9780137840656
36th Edition
Authors: Timothy J. Rupert, Kenneth E. Anderson, David S Hulse
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