Question
In 2022, Shim, who was a single individual, had $150,000 of gross income and made a $5,000 deductible contribution to his individual retirement account (IRA).
In 2022, Shim, who was a single individual, had $150,000 of gross income and made a $5,000 deductible contribution to his individual retirement account ("IRA"). Shim had $30,000 of deductible mortgage interest expense. What was Shim's 2022 adjusted gross income ("AGI")?
Group of answer choices
$150,000
$145,000
$115,000
$133,050
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
Be Audit You Can Be
Authors: Awesome Auditor
1st Edition
1659095700, 978-1659095708
