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Elton Weiss and Reyna Herrera-Weiss are married and report the following income items: Eltons salary $ 254,000 Reynas Schedule C net profit 50,000 The income
Elton Weiss and Reyna Herrera-Weiss are married and report the following income items:
Eltons salary | $ 254,000 |
---|---|
Reynas Schedule C net profit | 50,000 |
The income tax deduction for Reyna's SE tax was $3,532. Elton contributed the maximum to a Section 401(k) plan, and Reyna contributed the maximum to a SEP plan. Both spouses contributed $2,750 to their IRAs.
Required:
Compute their AGI.
Note: Round your intermediate calculations to the nearest whole dollar amount.
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