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Computing AGI: 1 During 2022, Paul, a 40-year-old singe taxpayer, who is a professor at BMCC, reports the following items to his tax-preparer: L Salary
Computing AGI: 1 During 2022, Paul, a 40-year-old singe taxpayer, who is a professor at BMCC, reports the following items to his tax-preparer: L Salary 150,000 1 Dividends from Alta Corporation 1,200 Interest income from a savings account at Chase Bank 150 Rental income from an apartment he owns 24,000 Expenses incurred with the rental apartment 25,000 Net Long-Term capital losses 5,000 Alimony payments to former wife (divorced July 21, 2018)-18,000 Student loan interest of 1.2001 Contributions to his Traditional IRA, 5,800 Educator expenses of 3001 Gambling winnings 4,5001 Gambling losses 5001 Child support payments of 24,000 Interest earned on Series EE Bonds 1.000 Instructions: Compute Paul's Adjusted Gross Income
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