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    Calculate Saul's Adjusted gross income (AGI).

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    Saul is single, under age 65, and has gross income of $50,000. His deductible expenses are as follows:

    Alimony $12,000
    Charitable contributions 2,000
    Contribution to a traditional IRA 4,000
    Expenses paid on rental property 5,000
    Interest on home mortgage and property taxes on personal residence 7,000
    State income tax 2,200

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    Solution Summary

    The solution presents the calculation for AGI for Saul.