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Jeannie, a single taxpayer, retired during the year, to take over the management of some rental ...

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Jeannie, a single taxpayer, retired during the year, to take over the management of some rental ...

Jeannie, a single taxpayer, retired during the year, to take over the management of some rental property. She had the following items of income and expense:

Salary prior to retirement date   $34,000
Dividends from domestic corporation   4,000
City of Los Angeles bonds   5,000
Pension (60% exclusion ratio)   12,000
Share of partnership income   14,000
Partnership distribution   10,000
Rent income   7,000
Rent expenses   9,000

What is Jeannie's adjusted gross income for the year?

Textbook

Prentice Hall's Federal Taxation: 2011: Individuals

Edition: 14^th

Authors: Pope, Anderson, Kramer

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We do not judge the people we love.

Prentice Hall's Federal Taxation by Kramer

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Augustus1 Author

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7 years ago

You're a saint, honestly

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We do not judge the people we love.

Prentice Hall's Federal Taxation by Kramer

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