Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

in 2020, elliott earned a $135000 salary as a physicians assistant. he owned his own home and paid $14000 mortgage interest on his primary residence

in 2020, elliott earned a $135000 salary as a physicians assistant. he owned his own home and paid $14000 mortgage interest on his primary residence during the year. his total real estate taxes on his primary residence for the year were $4000. other interest costs Elliott had during the year were: $2100 in interest on his student loans used for tuition and fees during his undergraduate program at University and $900 in interest kn credit cards during the year related to furniture he purchased for his home. finally. elliott spent 40 hours during the year prociding no cost care to needy families that would have normally resulted in an additional $3000 of wages for elliott if he had billed the clients.
determine elliotts AGI for 2020.
a. 118900
b. 128900
c. 129800
d. 132000
e. none of the answer

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

ISO 9001 2015 Audit Procedures

Authors: Ray Tricker

4th Edition

1138025895, 978-1138025899

More Books

Students also viewed these Accounting questions