Answered step by step
Verified Expert Solution
Question
1 Approved Answer
What is her gross income? Include a list of all items included and amounts. Employee salary received - $70,000 Child support received $12,000 Total allowable
What is her gross income? Include a list of all items included and amounts. Employee salary received - $70,000 Child support received $12,000 Total allowable itemized deductions $3,000 Cash gift received from parents $7,000 Long Term Gain on the sale of stock $5,000 Short Term Loss on the sale of stock ( $6,000) Amount collected from a life insurance policy (on father's death $40,000 Health insurance premiums paid by his employer $13,000 $ 800 Winnings from gambling trip to Las Vegas $1,200 Cost of employer paid parking (annual) All pre- $15,000 Government pension benefits received Short Term Loss on the sale of stock ( $6,000) Amount collected from a life insurance policy (on father's death $40,000 Health insurance premiums paid by his employer $13,000 Winnings from gambling trip to Las Vegas $ 800 Cost of employer paid parking (annual) $1,200 $15,000 All pre Government pension benefits received tax investment Amount his dog earned from being in TV ad $2,000
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