Mateo is a single taxpayer who had the following income and loss during 2023: Wages of...
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Mateo is a single taxpayer who had the following income and loss during 2023: Wages of $60,000. Dividend income of $5,000. Rental loss of $9,000. The loss was from a rental property that Mateo owned. During the year, he advertised and rented it to a tenant. He also collected the rent and did all the property repairs himself. No adjustments will be subtracted from Mateo's total income. What is his adjusted gross income for the year? Mateo is a single taxpayer who had the following income and loss during 2023: Wages of $60,000. Dividend income of $5,000. Rental loss of $9,000. The loss was from a rental property that Mateo owned. During the year, he advertised and rented it to a tenant. He also collected the rent and did all the property repairs himself. No adjustments will be subtracted from Mateo's total income. What is his adjusted gross income for the year?
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Answer rating: 100% (QA)
To calculate Mateos adjusted gross income AGI we need to start with his total income and subtract ... View the full answer
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date:
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