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Alexandra operates a garage as a sole proprietorship. Alexandra also owns a half interest in a partnership that operates a gas station. This year Alexandra
Alexandra operates a garage as a sole proprietorship. Alexandra also owns a half interest in a partnership that operates a gas station. This year Alexandra paid or reported the following expenses related to her garage and other property. Determine Alexandra's AGI for 2016.
Revenue from auto repairs | $144,730 |
Salaries paid to mechanics | 72,290 |
Supplies and tools | 18,580 |
Revenues from gas station partnership (Alexandras share) | 125,800 |
Expenses from gas station partnership (Alexandras share) | 95,280 |
Self-employment tax (1/2 is employers share) | 12,782 |
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