Carla Brooks is single and had a gross income of $52,000. During the year, she incurred the following expenses: Expense Charitable Contributions State and Local Taxes Legal fees related to divorce Amount $3,800 $6,200 $1,400 Medical Expenses (includes HSA contribution of $2,000) $4,600 Student Loan Interest $1,000 What is Carla's Adjusted Gross Income (AGI)? a. $45,800 b. $48,000 c. $49,000 d. $50,000
Carla Brooks is single and had a gross income of $52,000. During the year, she incurred the following expenses: Expense Charitable Contributions State and Local Taxes Legal fees related to divorce Amount $3,800 $6,200 $1,400 Medical Expenses (includes HSA contribution of $2,000) $4,600 Student Loan Interest $1,000 What is Carla's Adjusted Gross Income (AGI)? a. $45,800 b. $48,000 c. $49,000 d. $50,000
Chapter12: Alternative Minimum Tax
Section: Chapter Questions
Problem 40P
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Can you help me solve this financial accounting problem with the correct methodology?
Transcribed Image Text:Carla Brooks is single and had a gross income of $52,000. During the
year, she incurred the following expenses:
Expense
Charitable Contributions
State and Local Taxes
Legal fees related to divorce
Amount
$3,800
$6,200
$1,400
Medical Expenses (includes HSA contribution of $2,000) $4,600
Student Loan Interest
$1,000
What is Carla's Adjusted Gross Income (AGI)?
a. $45,800
b. $48,000
c. $49,000
d. $50,000
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