Kaylee is a self-employed investment counselor who also owns a rental property. This year, she collected $85,300
Question:
Health insurance premiums (not through an exchange)................$4,230
Life insurance premiums (whole life).............................................1,930
Books on investing............................................................................230
Repairs of the rental property............................................................480
Advertising for investment clients..................................................1,800
State income taxes..........................................................................4,330
Self employment tax (1/2 is employer share)...............................12,734
Kaylee files single with one personal exemption. Calculate her adjusted gross income.
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Related Book For
South-Western Federal Taxation 2020 Comprehensive
ISBN: 9780357109144
43rd Edition
Authors: David M. Maloney, William A. Raabe, James C. Young, Annette Nellen, William H. Hoffman
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