Review the items for each independent situation for separate taxpayers shown in the Situations column of the table below, and enter the appropriate amount of the taxpayer's adjusted gross income reflected on Form 1040, U.S. Individual Income Tax Return, in the associated cell. All taxpayers file their Form 1040 using the tax filing status of single. Assume that each taxpayer's initial calculation of gross income is $68,000, which includes no capital gains or losses, before considering the situations listed below. Enter all amounts as positive, whole numbers. If the amount is zero, enter a zero (O). Situations Adjusted gross income 1. 12 $6,000 - Self-employed health insurance premiums paid $9,000 - Self-employment tax paid $4,000 - Unreimbursed nonbusiness casualty loss incurred in federally declared disaster area $57,500 2. $2,000 - Contribution to a ROTH IRA account $180 - Remittance of jury duty pay to employer $200 - Penalty on early withdrawal of certificate of deposit $67,620 123 3. $24,000 - Amount of a traditional IRA that was rolled over to another traditional IRA in a direct trustee-to-trustee transfer within 50 days $8,000 - Gambling losses incurred (no winnings reported) $200 - Unreimbursed classroom supplies (the taxpayer is an eligible educator) 123 4. $6,000 - Loss on sale of personal use automobile $10,000 - Contribution to the capital of an S corporation $3,000 - Write-off of a worthless nonbusiness loan 123 5. $1,600 - Student loan interest paid (assuming that no phaseouts apply) $12,000 - Cash inheritance received from a relative's estate $18,000 - Prior year's federal income tax paid in the current year Review the items for each independent situation for separate taxpayers shown in the Situations column of the table below, and enter the appropriate amount of the taxpayer's adjusted gross income reflected on Form 1040, U.S. Individual Income Tax Return, in the associated cell. All taxpayers file their Form 1040 using the tax filing status of single. Assume that each taxpayer's initial calculation of gross income is $68,000, which includes no capital gains or losses, before considering the situations listed below. Enter all amounts as positive, whole numbers. If the amount is zero, enter a zero (O). Situations Adjusted gross income 1. 12 $6,000 - Self-employed health insurance premiums paid $9,000 - Self-employment tax paid $4,000 - Unreimbursed nonbusiness casualty loss incurred in federally declared disaster area $57,500 2. $2,000 - Contribution to a ROTH IRA account $180 - Remittance of jury duty pay to employer $200 - Penalty on early withdrawal of certificate of deposit $67,620 123 3. $24,000 - Amount of a traditional IRA that was rolled over to another traditional IRA in a direct trustee-to-trustee transfer within 50 days $8,000 - Gambling losses incurred (no winnings reported) $200 - Unreimbursed classroom supplies (the taxpayer is an eligible educator) 123 4. $6,000 - Loss on sale of personal use automobile $10,000 - Contribution to the capital of an S corporation $3,000 - Write-off of a worthless nonbusiness loan 123 5. $1,600 - Student loan interest paid (assuming that no phaseouts apply) $12,000 - Cash inheritance received from a relative's estate $18,000 - Prior year's federal income tax paid in the current year
