Janice is single, had gross income of $38,000, and incurred the following expenses: Charitable contribution &nbs

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Question

Janice is single, had gross income of $38,000, and incurred the following expenses: Charitable contribution &nbs

Janice is single, had gross income of $38,000, and incurred the following expenses:

Charitable contribution $2,500

Taxes and interest on home 9,000

Legal fees incurred in a tax dispute 1,000

Medical expenses incl a contribution to her HSA of $2,500 4,000

Student Loan Interest 200

Her AGI is:

$21,300
$28,800
$35,300
$37,800

business accounting

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Answer 1

Answer #1

Answer:

Correct answer is:

$35,300

Explanation:

Gross Income Less: HSA Less: Student Loan interest AGI $38,000 $2,500 $200 $35,300

Charitable contribution, Taxes and interest on home and medical expenses are itemized deductions. Personal legal fees incurred in a tax dispute are not tax deductible.

Hence option C is correct and other options A, B and D are incorrect.

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Answer 2

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Janice is single, had gross income of $38,000, and incurred the following expenses: Charitable contribution &nbs

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