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Elementary,Middle School,High School,College,University,PHD
| Teaching Since: | May 2017 |
| Last Sign in: | 402 Weeks Ago, 1 Day Ago |
| Questions Answered: | 66690 |
| Tutorials Posted: | 66688 |
MCS,PHD
Argosy University/ Phoniex University/
Nov-2005 - Oct-2011
Professor
Phoniex University
Oct-2001 - Nov-2016
1. Austin, a single individual with a salary of $100,000, incurred and paid the following expenses during the year: Medical expenses $5,000 Alimony 24,000 Charitable contributions 2,000 Casualty loss on business property 8,000 Casualty loss on rental property 5,000 Personal casualty gains 3,000 Personal casualty losses (after $100 floor) 12,000 Nonbusiness bad debt 6,000 Mortgage interest on personal residence 4,500 Property taxes on personal residence 4,200 Moving expenses 2,500 Contribution to a traditional IRA 4,000 State income taxes 1,300 Unreimbursed employee expenses 2,500 Investment income 6,000 Investment expenses 8,000 Calculate Austin's AGI and taxable income. Showing all work including every calculation you make at arriving at a particular number.
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