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Please explain the steps 37. Al (single, age 65) has gross income of $140,000 before the following items. Alimony paid (divorced in 1999) $20,000 Charitable
Please explain the steps
37. Al (single, age 65) has gross income of $140,000 before the following items. Alimony paid (divorced in 1999) $20,000 Charitable contributions 4,000 Rental property income (rented for 10 days otherwise personal use) 7,000 Rental property maintenance 7,500 Interest on home mortgage, property taxes on personal residence 7,200 State income tax paid 2,200 What is Al's AGI? a. $100,450 b. $101,100 $103,300 d. $120,000 37. Al (single, age 65) has gross income of $140,000 before the following items. Alimony paid (divorced in 1999) $20,000 Charitable contributions 4,000 Rental property income (rented for 10 days otherwise personal use) 7,000 Rental property maintenance 7,500 Interest on home mortgage, property taxes on personal residence 7,200 State income tax paid 2,200 What is Al's AGI? a. $100,450 b. $101,100 $103,300 d. $120,000Step by Step Solution
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