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Al is single, age 60, and has gross income of $143,000. His deductible expenses for 2020 are as follows: Alimony (divorce finalized in 2019) $10,000
Al is single, age 60, and has gross income of $143,000. His deductible expenses for 2020 are as follows:
Alimony (divorce finalized in 2019) | $10,000 |
Charitable contributions | 4,000 |
Contribution to a traditional IRA | 3,500 |
Loss on a rental property | 2,500 |
Interest on home mortgage and property taxes on personal residence | 7,200 |
State income tax | 2,200 |
What is Als AGI?
$123,000
$137,000
$127,000
None of these amounts.
$103,000
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