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1 . Employment and Bonus: Jane earns a salary of $ 5 0 , 0 0 0 and receives a year - end bonus of

1. Employment and Bonus: Jane earns a salary of $50,000 and receives a year-end bonus of $3,000. Is the bonus part of Jane's Gross Income? Calculate Jane's Adjusted Gross Income.
2. Rental Income: Mike owns a rental property and receives $12,000 in rental income annually. Is rental income considered part of Gross Income? Determine Mike's Adjusted Gross Income.
3. Educational Expenses: Lisa is a teacher and spent $500 on classroom supplies during the year.Are these educational expenses "above the line" deductions? Calculate Lisa's Adjusted Gross Income.

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