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CHAPTER 6 6 Saved Help Save & Exibmit Check my work Jeremy and Alyssa Johnson have been married for five years and do not have
CHAPTER 6 6 Saved Help Save & Exibmit Check my work Jeremy and Alyssa Johnson have been married for five years and do not have any children. Jeremy was married previously and has one child from the prior marriage. He is self-employed and operates his own computer repair store. For the first two months of the year, Alyssa worked for Office Depot as an employee. In March, Alyssa accepted a new job with Super Toys Inc. (ST), where she worked for the remainder of the year. This year, the Johnsons received $257000 of gross income 10 points a. Expenses associated with Jeremy's store include $40,500 in salary (and employment taxes) to employees, $45,600 of supplies, and $18,200 in rent and other administrative expenses. b. As a salesperson, Alyssa incurred $2,020 in travel expenses related to her employment that were not reimbursed by her employer. c. The Johnsons own a piece of raw land held as an investment. They paid $520 of real property taxes on the property and they eBook Print incurred $210 of expenses in travel costs to see the property and to evaluate other similar potential investment properties. d. The Johnsons own a rental home. They incurred $8,520 of expenses associated with the property. e. Jeremy paid $4,520 for health insurance coverage for himself (not through an exchange). Alyssa was covered by health plans References provided by her employer, but Jeremy is not eligible for the plan until next year. f. Jeremy paid $2,520 in self-employment taxes ($1,260 represents the employer portion of the self-employment taxes). g. Jeremy paid $5,040 in alimony and $3,030 in child support from his prior marriage (divorced in 2010). h. The Johnsons donated $2,020 to their favorite charity Determine the Johnson's AGI given the above information: Johnson's AGI
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