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Required information [The following information applies to the questions displayed below.] Rocco operates a beauty salon as a sole proprietorship. Rocco also owns and
Required information [The following information applies to the questions displayed below.] Rocco operates a beauty salon as a sole proprietorship. Rocco also owns and rents an apartment building. In 2022, Rocco had the following income and expenses. You may assume that Rocco will owe $2,508 in self-employment tax on his salon Income, with $1,254 representing the employer portion of the self-employment tax. You may also assume that his divorce from Svetlana was finalized in 2016. Interest income Salon sales and revenue Balaries paid to beauticians Beauty salon supplies Alimony paid to his ex-wife, Svetlana Rental revenue from apartment building Depreciation on apartment building Real estate taxes paid on apartment building Real estate taxes paid on personal residence Contributions to charity $ 11,410 86.460 45,300 23,410 6,050 31,400 12,950 11,140 6,270 4,270 a. Determine Rocco's AGI. Note: Amounts to be deducted should be indicated by a minus sign. Interest income Salon revenue Operating income from salon Apartment building revenue Apartment building income AGI 0
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