Question
Al is single, age 60, and has gross income of $140,000 in 2018. His deductible expenses in 2018 are as follows: Alimony $15,000 Charitable contributions
Al is single, age 60, and has gross income of $140,000 in 2018. His deductible expenses in 2018 are as follows: Alimony $15,000 Charitable contributions 3,000 Contribution to a traditional IRA 5,000 Interest on home mortgage on personal residence 6,500 Real property taxes on personal residence 7,000 What is Als AGI? a. $103,500 b. $127,000 c. $135,000 d. $120,000
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Intermediate Accounting
Authors: James D. Stice, Earl K. Stice, Fred Skousen
17th Edition
032459237X, 978-0324592375
