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Sam Carver works as a district sales manager and travels extensively for his employer's business. This year he was paid $125,000 in salary and pad
Sam Carver works as a district sales manager and travels extensively for his employer's business. This year he was paid $125,000 in salary and pad for the items listed below.
Sam also made a number of trips to Las Vegas for gambling. This year he won $28,600 playing blackjack. Unfortunately this was not enough to offset his gambling losses of $32,900. Sam is single but is entitled to claim his mother as his dependent.
State income taxes withheld | $8,300 | |
Employee business expenses | ||
(unreimbursed portion) | 2,450 | |
interest on his car loan | 2,300 | |
Medical expenses | 3,250 | |
Charitable contributions | 680 | |
Investment counseling fees | 965 | |
Tax preparation fee | 1250
|
What is his gross income, deductions FOR AGI, AGI, deductions FROM AGI, and taxable income?
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