Answered step by step
Verified Expert Solution
Question
1 Approved Answer
what are his total adjustments to income Mike Raffone files as single and is under 65 , but is blind. He is self-employed, and presents
what are his total adjustments to income
Mike Raffone files as single and is under 65 , but is blind. He is self-employed, and presents the following information for 2023: - Self-employment net income of $66,982 - Medical expenses paid of $5,625 - Property taxes paid of $2,698 - Gambling losses of $3,411 - Contribution to a traditional IRA of $5,000 - Total self-employment taxes paid of $9,464 Assuming no limitations apply to Mike Raffone's deductions and he takes the standard deduction, what are his total Adjustments to Income? (Round your answer to the nearest dollar.) (Numbers only. Do not use dollar signs, commas or decimals.) (If your answer is 0 , enter 1 instead.) Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started