At retirement, Ross annually withdraws $50,000 from his Roth IRA (in a Roth IRA, taxes are paid when funds are contributed, not at withdrawal). What is Ross's AGI if he also has gross income from an annuity of $45,000? Please note these possibilities for AGI deductions: He paid $15,000 in medical bills He has a house that he rents out for $45,000 for the entire year, but his rental expenses for the house were $55,000 He had $2,500 of mortgage interest on his primary residence.

Answer rating: 100% (QA)

To calculate Rosss Adjusted Gross Income AGI well start with his g... View the full answer