7. For tax year 2020, a taxpayer has the following income items: - \$200,000 Wages (with no employer-sponsored pension) - Sale of primary residence for $250,000 (where the taxpayer lived for the past 3 years) - $40,000 alimony paid, which was ordered from a 2019 divorce decree - $25,000 Life Insurance proceeds - \$4,500 Traditional IRA contribution Is this the adjusted gross income for the taxpayer? $405,500 Click Yes' or 'No' for each option until complete. 7. For tax year 2020, a taxpayer has the following income items: - $200,000 Wages (with no employer-sponsored pension) - Sale of primary residence for $250,000 (where the taxpayer lived for the past 3 years) - $40,000 alimony paid, which was ordered from a 2019 divorce decree - \$25,000 Life Insurance proceeds - \$4,500 Traditional IRA contribution Is this the adjusted gross income for the taxpayer? $195,500 Click 'Yes' or 'No' for each option until complete. 7. For tax year 2020, a taxpayer has the following income items: - \$200,000 Wages (with no employer-sponsored pension) - Sale of primary residence for $250,000 (where the taxpayer lived for the past 3 years) - $40,000 alimony paid, which was ordered from a 2019 divorce decree - \$25,000 Life Insurance proceeds - \$4,500 Traditional IRA contribution Is this the adjusted gross income for the taxpayer? $195,500 Click 'Yes' or 'No' for each option until complete