1) In 2020, Danny had the following transactions: Salary $70,000 Bank loan( used to purchase a personal auto) $10,000 Alimony paid(divorce was finalized in 2012) $15,000 Child support paid $9,000 Gift from aunt $16,000 IRA Contribution $5,000 Danny's AGI is: 55,000 81,000 70,000 50,000 ?

2) Denise and Steve were divorced in June of 2020. Under the terms of the divorce, Steve was to pay his wife Denise $2,000 per month. Steve's payments will be reduced to $1,200 per month when their 8 year-old son becomes 21. Denise has custody of their son. For a 12-month period, Steve can deduct from gross income (and Mary must include in gross income):

	$14,400
	$38,400
	$0
	$9,600