Explore BrainMass

Explore BrainMass

    Calculate Saul's Adjusted gross income (AGI).

    This content was COPIED from BrainMass.com - View the original, and get the already-completed solution here!

    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

    © BrainMass Inc. brainmass.com June 3, 2020, 9:26 pm ad1c9bdddf
    https://brainmass.com/business/accounting/calculate-sauls-adjusted-gross-income-agi-181982

    Solution Summary

    The solution presents the calculation for AGI for Saul.

    $2.19

    ADVERTISEMENT