14. Ron, age 19, is a full-time graduate student at City University. During 2019, he received...

 

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14. Ron, age 19, is a full-time graduate student at City University. During 2019, he received the following payments: Cash award for being the outstanding resident adviser $ 1,500 Resident adviser housing 2,500 State scholarship for ten months (tuition and books) 6,000 State scholarship (meals allowance) 2,400 Loan from college financial aid office 3,000 Cash support from parents 2,000 Total $17,400 Ron served as a resident adviser in a dormitory and, therefore, the university waived the $2,500 charge for the room he occupied. What is Ron's adjusted gross income for 2019? a. $1,500. b. $3,900. c. $9,000. d. $15,400. 14. Ron, age 19, is a full-time graduate student at City University. During 2019, he received the following payments: Cash award for being the outstanding resident adviser $ 1,500 Resident adviser housing 2,500 State scholarship for ten months (tuition and books) 6,000 State scholarship (meals allowance) 2,400 Loan from college financial aid office 3,000 Cash support from parents 2,000 Total $17,400 Ron served as a resident adviser in a dormitory and, therefore, the university waived the $2,500 charge for the room he occupied. What is Ron's adjusted gross income for 2019? a. $1,500. b. $3,900. c. $9,000. d. $15,400.

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The correct answer is option A which is 1500 AGI is calculated as your gro... View the full answer