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Calculate 2018 Adjusted Gross Income for Thomas Trent based on the following Information: Label each Item as follows: Not Includible NI; Gross INcome GI; Deduction

Calculate 2018 Adjusted Gross Income for Thomas Trent based on the following Information: Label each Item as follows: Not Includible NI; Gross INcome GI; Deduction for adjusted gross income DAGI.

Salary $200,000

Treasury bond Interest $10,000

Sole proprietorship income $20,000

Sister Thea repaid loan $50,000

Contributed $1,000 to qualified Health Savings Account

Inherited $100,000 from Uncle Trevor

Found ring worth $10,000 on beach

Alimony paid $40,000 Divorce decree signed March 15, 2018 Penalty paid for early withdrawal from timed savings account $500 Partnership loss $10,000

Legal Settlement $20,000 for injury to leg in roller coaster accident Beneficiary of Great grandmother's life insurance policy $200,000 Contributed $2,000 to qualified retirement plan.

NYC Municipal bond interest $50,000

Paid child support of $30,000

Self employment tax paid $10,000

Unemployment compensation $10,000

Dividends received $10,000

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