Joe is a single, self-employed individual who owns his own business. During the current year, Joe reported

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Joe is a single, self-employed individual who owns his own business. During the current year, Joe reported $200,000 gross income and $60,000
of business expenses. He also paid $30,000 in alimony to his former spouse, $4,000 mortgage interest on his personal home, $6,000 for health insurance premiums, and $2,000 for medicine and doctors. Ignoring any self-employment tax on the business income, what is Joe’s AGI?

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Federal Taxation 2018 Comprehensive

ISBN: 9780134532387

31st Edition

Authors: Thomas R. Pope, Timothy J. Rupert, Kenneth E. Anderson

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