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Kaylee is a self-employed investment counselor who also owns a rental property. This year, she collected $86,000 in fees and paid the following expenses: Health
Kaylee is a self-employed investment counselor who also owns a rental property. This year, she collected $86,000 in fees and paid the following expenses:
Health insurance premiums (not through an exchange) | $4,300 |
Life insurance premiums (whole life) | 2,000 |
Books on investing | 300 |
Repairs of the rental property | 550 |
Advertising for investment clients | 1,870 |
State income taxes | 4,400 |
Self employment tax (1/2 is employer share) | 12,804 |
Kaylee files single with one personal exemption. Calculate her adjusted gross income.
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