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Big Tony operates an illegal drug-running business and has the following items of income and expense: Income: $900,000 Expense: Rent: $30,000 Utilities: $9,000 Brides to
Big Tony operates an illegal drug-running business and has the following items of income and expense: Income: $900,000 Expense: Rent: $30,000 Utilities: $9,000 Brides to police: $75,000 Medical expense: $85,000 Legal Fees: $25,000 Depreciation: $30,000 Illegal kickbacks: $40,000 Cost of gods sold: $400,000 What is Tony's adjusted gross income from this illegal drug running operation? What is Tony's adjusted gross income if Tony operated an illegal gambling business, rather than an illegal drug running business?
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