Question
Find the Adjusted gross income (AGI) for 2017 with the following details (include depreciation using MARC 3.45%): Please Show Work -Filing Status - Married Filing
Find the Adjusted gross income (AGI) for 2017 with the following details (include depreciation using MARC 3.45%): Please Show Work
-Filing Status - Married Filing Jointly
-Both Over 65 years of age
-4 Dependents
Group Life Insurance | $50,0000 |
Social Security | $15,000 |
Prize | $3,000 |
Workers Comp | $2,000 |
Other winnings from court case | $5,000 |
Rent | $1,200 ($100 a month for a year) |
Rental Property | $50,000 |
Expense for Rental Property | Water-$50, taxes-$500, routine maintence-$200 |
Saving Account | $100 |
Investment | $50,000 |
Nonqualified Dividends@5 | $10,0000 |
City of Mars Bonds | $1,500 |
Telephone Split 2:1 | 100 Shares FMV of $1,000 @ 5 200 Shares FMV of $2,000 |
Contribution to charity | $1,090 |
Personal credit card amount | $950 |
Real Estate taxes | $2,000 |
Salary | $75,000 |
Withholdings | $10,000 |
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