Saul is single, age 25, and has gross income of $50,000. His bona fide deductible expenses are as follows: Alimony $8,000 Charitable contributions 2,000 Expenses paid on rental property owned by Saul 3, 800 IRA Pension contribution 3,000 Interest paid on a student loan 1, 200 What is Saul' s AGI? $28,000. $33,000. $34,000. $37,000. $43,000. On February 9, 2014, Harry sold stock with a cost of $12,000 to his sister Florine for $7,000, its fair market value. On July 30, 2016, Florine sold the same stock for $16, 200 to a friend in a bona fide transaction. What is the proper treatment in 2016 for these transactions? Neither Harry nor Florine has a recognized gain or loss. Harry has a recognized loss of $5,000. Florine has a recognized gain of $4, 200. Florine has a recognized gain of $9, 200. None of the above. Bernard, age 17, is a full time student supported by his parents who claim him or. their tax return for 2016. His 2016 income included the following: Assuming Bernard' s parents are in the 28% tax bracket, Bernard' s tax liability for 2016 is(round to the nearest dollar): $287. $343. $377. $645. none of the above. Under the terms of a post-1986 divorce agreement. Lillian is to receive the home that she and her former husband owned jointly. The house cost $400,000 and now has a fair market value of $600,000. Lillian roust: Include $400,000 in gross income as alimony. Include $600,000 in gross income as alimony. Include $200,000 in gross income as alimony Not report any gross income upon receiving the house. None of the above