Sullivan's wife, Susan, died four years ago. Sullivan has not remarried and has found a new...

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Sullivan's wife, Susan, died four years ago. Sullivan has not remarried and has found a new person to be his possible wife in 2022. In 2021, Sullivan received $82,000 of salary from his employer and $4,000 of business income (his net schedule C income); his total SE tax on line 23 was 865. He also had the following expenses: 1. Total medical expenses $12,000; insurance reimbursed only $4,000. 2. Federal and State income taxes withheld from his salary were $10,000 and $6,000, respectively. 3. He paid real state taxes of $4,200 and mortgage interest of $6,000. 4. Charitable cash donations totaling $650 to qualified charities. 5. Gambling expenses of $3,000; had not gambling winning. A. What is Sullivan's AGI for 2021? B. What is his total of itemized deductions. C. His taxable income. 4. His total tax liability (line 24). 5. His refund or balance due. Sullivan's wife, Susan, died four years ago. Sullivan has not remarried and has found a new person to be his possible wife in 2022. In 2021, Sullivan received $82,000 of salary from his employer and $4,000 of business income (his net schedule C income); his total SE tax on line 23 was 865. He also had the following expenses: 1. Total medical expenses $12,000; insurance reimbursed only $4,000. 2. Federal and State income taxes withheld from his salary were $10,000 and $6,000, respectively. 3. He paid real state taxes of $4,200 and mortgage interest of $6,000. 4. Charitable cash donations totaling $650 to qualified charities. 5. Gambling expenses of $3,000; had not gambling winning. A. What is Sullivan's AGI for 2021? B. What is his total of itemized deductions. C. His taxable income. 4. His total tax liability (line 24). 5. His refund or balance due.

Answer rating: 100% (QA)

A To calculate Sullivans AGI Adjusted Gross Income for 2021 we need to add up all his income and the... View the full answer