QUESTION 4

1. Kaylee is a self-employed investment counselor who also owns a rental property. This year, she collected $85,800 in fees and paid the following expenses:

   Health insurance premiums (not through an exchange) $4,280

   Life insurance premiums (whole life) $1,980

   Books on investing $280

   Repairs of the rental property $530

   Advertising for investment clients $1,850

   State income taxes $4,380

   Total self-employment tax $11,812

   Kaylee files single. Calculate her adjusted gross income.