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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The solution presents the calculation for AGI for Saul.
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