For tax year 2023 a single taxpayer has the following item $200,000 wages (with no employer sponsored pension) Sale of a primary residence for $250,000 (where taxpayer live for the past 3 years) 40,000 and alimony paid which was ordered from a 2019 divorce decree 25,000 life insurance proceeds 4,500 traditional IRA contribution. What is the adjusted gross income for this taxpayer.

For tax year 2023 a single taxpayer has the following item $200,000 wages (with no employer sponsored pension) Sale of a primary residence for $250,000 (where taxpayer live for the past 3 years) 40,000 and alimony paid which was ordered from a 2019 divorce decree 25,000 life insurance proceeds 4,500 traditional IRA contribution. What is the adjusted gross income for this taxpayer.

Individual Income Taxes

43rd Edition

ISBN:9780357109731

Author:Hoffman

Publisher:Hoffman

Chapter3: Tax Formula And Tax Determination : An Overview Of Property Transactions

Section: Chapter Questions

Problem 49P: During 2019, Inez (a single taxpayer) had the following transactions involving capital assets: a. If...

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