Question
Mike is single, age 67, and has gross income of $150,000. His expenses are as follows: Alimony paid (divorce finalized in 2017) $15,000 Charitable
Mike is single, age 67, and has gross income of $150,000. His expenses are as follows: Alimony paid (divorce finalized in 2017) $15,000 Charitable Contributions $3,000 Contribution to Traditional IRA $6,000 Loss on rental property $7,500 Interest on home mortgage and property taxes paid on personal residence $7,200 State income tax $2,200 What is Mike's taxable income?
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Personal Finance
Authors: Jeff Madura
5th edition
132994348, 978-0132994347
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