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Allison had the following transactions during 2019: Salary $90,000 Bank loan obtained to pay for car purchase 30,000 Interest income on bonds Issued by City

Allison had the following transactions during 2019:

Salary

$90,000

Bank loan obtained to pay for car purchase

30,000

Interest income on bonds

Issued by City of Nashville

$4,000

Issued by Procter & Gamble Corporation

5,000

9,000

Child support received

6,000

Capital gain from stock investment, held for 4 months

3,500

Alimony received (divorce finalized in 2011)

5,000

Inheritance received from Grandpa George

20,000

Charitable contributions paid to church

(5,000)

What is Allisons AGI for 2019? Show and label all calculations. For all items you exclude from the calculation, explain why. (8 points)

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