Question

Help Save & Exit Jeremy and Alyssa Johnson have been married for five years and do not have any children. Jeremy was married previously and has one child from the prior marriage. He is self-employed and operates his own computer repair store. For the first two months of the year, Alyssa worked for Office Depot as an employee. In March, Alyssa accepted a new job with Super Toys Inc. (ST), where she worked for the remainder of the year. This year, the Johnsons received $271,000 of gross income a. Expenses associated with Jeremy's store include $44,000 in salary (and employment taxes) to employees, $49,800 of supplies, and $19,600 in rent and other administrative expenses b, As a sale Alyssa incurred $2.,160 in travel expenses related to her employment that were not reimbursed by her employer c. The Johnsons own a piece of raw land held as an investment. They paid $660 of real property taxes on the property and they incurred $280 of expenses in travel costs to see the property and to evaluate other similar potential investment properties. d. The J e. Jeremy paid $4.660 for health insurance coverage for himself (not through an exchange). Alyssa was covered by health plans ns own a rental home. They incurred $8,660 of expenses associated with the property by her employer, but Jeremy is not eligible for the plan until next year ttaxes ($1,330 represents the employer portion of the self-employment taxes) g Jeremy paid $5,320 in alimony and $3,240 in child support from his prior marriage (divorced in 2010). h. The Johnsons donated $2.160 to their favorite charity くPrev 20, 9111 Next >

Answer 1

Calculation of Johnson's AGI :-

Particulars	Amount($)
Gross Income	271000
Less :-
Ordinary and necessary business Expenses($44000+$49800+$19600)	(113400)
Rental Expenses	(8660)
Self Employed Health Insurance	(4660)
Self Employment taxes ($2660/2)	(1330)
Alimony	(5320)
Johnson's AGI	137630