Computing AGI

Michael and Sabrina are married and have three children, Amara, Bryan, and Skyla. They live at 120 Main Street, Flushing NY 11425. Michael is a law professor, working at Brooklyn College. Sabrina is currently unemployed. The following is a list of information for Michael and Sabrina Brown for the tax year 2019.

Michael wages 80,000

Interest from Chase savings account 500

Interest from NYS municipal bonds - 250

Rental income 25,000

Rental operating expenses 20,000

Capital losses 5,000

Gambling winnings 2,000

Gambling losses 2,200

Roth IRA contributions 8,000

Educational expenses incurred my Michael 350

Self-employed taxes (from rental net income) 1,000

Itemized deductions 25,000

Michael and Sabrina are ages 65, and 55 respectively.

Instructions: Calculate the Browns AGI.