Question
Mickey Mouse had the following transactions during 2016. He files as head of household and has 3 dependents: Wages received $65,000 City and State income
Mickey Mouse had the following transactions during 2016. He files as head of household and has 3 dependents: Wages received $65,000 City and State income taxes paid $4,100 Interest income on bonds: Issued by City of Albuquerque $950 Issued by US Treasury $1,200 Issued by Intel Corporation $3,800 Totaling; $5,950; Alimony paid $3,200; Property taxes paid on personal residence $ 3,550; Lottery prize winning s received $4,700; Donation made to the Salvation Army $1,380; Child Support paid $7,500; Unreimbursed/Deductible moving expenses $750; Gift received from his favorite aunt $12,000; Capital Loss from Stock investment ($3,650); Home mortgage interest paid $8,250; Medical expenses paid $3,160. Calculate Mickey's AGI.
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