Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Brooke (single, age 35) is a national account director. She earns $125,000 in W-2 salary and another $10,000 in dividends and interest from her brokerage

Brooke (single, age 35) is a national account director. She earns $125,000 in W-2 salary and another $10,000 in dividends and interest from her brokerage account. She also contributes $20,000 to her Traditional 401(k), another $3,600 to her health savings account, and pays $1,000 per month in alimony to her ex-husband (divorced 2018). She elects the standard deduction. What is her adjusted gross income (AGI) this year?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

To calculate Brookes adjusted gross income AGI we need to consider her vario... blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

South Western Federal Taxation 2015

Authors: William H. Hoffman, William A. Raabe, David M. Maloney, James C. Young

38th Edition

978-1305310810, 1305310810, 978-1285439631

More Books

Students also viewed these Accounting questions