Question
Evan graduated from college, and took a job as a deliveryman in the city. Evan was paid a salary of $68,500 and he received $700
Evan graduated from college, and took a job as a deliveryman in the city. Evan was paid a salary of $68,500 and he received $700 in hourly pay for part-time work over the weekends. Evan summarized his expenses below. |
Cost of moving his possessions to the city (125 miles away) $ 1,200
Interest paid on accumulated student loans 2,800
Cost of purchasing a delivery uniform 1,400
Contribution to State University deliveryman program 1,300
Calculate Evan's AGI and taxable income if he files single with one personal exemption.
Assume that interest payments were initially required on Evans student loans this year.
Evan's AGI?
Taxable Income?
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started