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Required information [ The following information applies to the questions displayed below. ] Read the following letter and help Shady Slim with his tax situation.
Required information
The following information applies to the questions displayed below.
Read the following letter and help Shady Slim with his tax situation. Assume that gross income is $which consists
only of salary and filing status of single for the purposes of this problem.
December
To the friendly student tax preparer:
Hi it's Shady Slim again. I just got back from my th birthday party, and Im told that you need some more information
from me in order to complete my tax return. Im an open book! I'll tell you whatever I think you need to know.
I had to move this year after getting my job at Roca Cola. I moved on February of this year, and I worked my job at Roca
Cola for the rest of the year. I still live in the same state, but I moved miles away from my old house. I hired a moving
company to move my stuff at a cost of $ and I drove in my car. I got a hotel room along the way that cost me $I
love Super
Can you believe Im still paying off my student loans, even after years? I paid a total of $ in interest on my old
student loans this year.
Since Roca Coca my employer never started a retirement plan, I decided I should probably start saving for my golden
years. I contributed $ to what the bank referred to as a regular IRA or was it a REM? Oh yeah, I also did a little
investing this year. I bought a limited partnership interest in Duds Ltd for $ I thought it was going to be a real
winner, but this year they took a bath. My portion of the loss was $ Well, at least I did not actually do any work for
Duds, and I get the tax deduction right?
That should be all the information you need right now.
a Calculate the AGI.
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