Question

Mr. and Mrs. Morris own a grocery store as a sole proprietorship. Their net profit and other relevant items for the year are:
Grocery store net profit ……………………………. $44,000
Deduction for SE tax ………………………………. (3,109)
Dividends and interest income ……………………. 1,080
Loss from a rental house …………………………. (6,470)
Loss from a limited partnership interest …………. (3,400)
Compute Mr. and Mrs. Morris’s AGI.


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  • CreatedNovember 03, 2015
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