Assignment 6 Computing AGI Michael and Sabrina are married and have three children, Amara, Bryan, and Skyla They live at 120 Main Street, Flushing NY 11425 Michael is a law professor, working at BMCC CUNY Sabrina is currently unemployed The following is a list of information for Michael and Sabrina Brown for the tax year 2019 Michael wages 80,000 Interest from Chase savings account 500 Interest from NYS municipal bonds 250 Rental income 25,000 Rental operating expenses 20,000 Capital losses 5,000 Gambling winnings 2,000 Gambling losses 2,200 Roth IRA contributions 8,000 Educational expenses incurred my Michael 350 Self employed taxes (from rental net income) 1,000 Itemized deductions 25,000 Michael and Sabrina are ages 65, and 55 respectively Instructions Calculate the Browns AGI Show all computations to get full credit

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Question: Assignment 6 Computing AGI Michael and Sabrina are married and have three children, Amara, Bryan, and Skyla. They live at 120 Main Street, Flushing NY

Assignment 6 Computing AGI

Michael and Sabrina are married and have three children, Amara, Bryan, and Skyla. They live at 120 Main Street, Flushing NY 11425. Michael is a law professor, working at BMCC CUNY. Sabrina is currently unemployed. The following is a list of information for Michael and Sabrina Brown for the tax year 2019.

Michael wages 80,000
Interest from Chase savings account 500
Interest from NYS municipal bonds - 250
Rental income 25,000
Rental operating expenses 20,000
Capital losses 5,000
Gambling winnings 2,000
Gambling losses 2,200
Roth IRA contributions 8,000
Educational expenses incurred my Michael 350
Self-employed taxes (from rental net income) 1,000
Itemized deductions 25,000
Michael and Sabrina are ages 65, and 55 respectively.

Instructions: Calculate the Browns AGI. Show all computations to get full credit.

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