Answered: adjusted gross income.

Advanced Engineering Mathematics

10th Edition

ISBN:9780470458365

Author:Erwin Kreyszig

Publisher:Erwin Kreyszig

Chapter2: Second-order Linear Odes

Section: Chapter Questions

Problem 1RQ

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Question

Al, who is single, retired from his job this year. He received a salary of

$27,000 for the portion of the year that he worked, tax-exempt interest of

$3,000, and dividends from domestic corporations of $2,800. On September 1, he began receiving monthly pension payments of

$700 and Social Security payments of $500. Assume an exclusion ratio of

40% for the pension. Al owns a duplex that he rents to others. He received rent of $19,000 and incurred $22,000 of expenses related to the duplex. He continued to actively manage the property after he retired from his job.

Requirement Compute Al's adjusted gross income.






Gross income
Minus:	Deductions for Adjusted gross income

Adjusted gross income

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