Question: 1 . Al is single , age 60 , and has gross income of $140, 000 . His deductible expenses are as follows : Alimony


1 . Al is single , age 60 , and has gross income of $140, 000 . His deductible expenses are as follows : Alimony - divorce took place in 2005 Charitable contributions $20, 000 Contribution to a traditional IRA 4 , 000 5. 500 Expenses paid on rental property 7. 500 Interest on home mortgage and property taxes on personal residence State income tax 7 , 200 2 , 200 What is Al's AGI
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
