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Jaxon is a single, self-employed individual who owns his own business. During 2020, Jaxon reported $240,000 gross income and $30,000 of business expenses. He also
Jaxon is a single, self-employed individual who owns his own business. During 2020, Jaxon reported $240,000 gross income and $30,000 of business expenses. He also paid $22,000 in alimony (divorced in 2017) to his former spouse, $4,800 mortgage interest on his personal home, $6,500 for health insurance premiums, and $1,900 for medicine and doctors. Ignoring any self-employment tax on the business income, what is Jaxon's AGI?
Jaxon is a single, self-employed individual who owns his own business. During 2020, Jaxon reported $240,000 gross income and
$30,000 of business expenses. He also paid $22,000 in alimony (divorced in 2017) to his former spouse, $4,800 mortgage interest on
his personal home, $6,500 for health insurance premiums, and $1,900 for medicine and doctors. Ignoring any self-employment tax
on the business income, what is Jaxon's AGI?
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