question archive During 2019, Sarah had the following transactions: Salary $60,000 Interest income on IBM bonds 3,000 Inheritance from aunt 30,000 Contribution to traditional IRA 5,000 Whats Sarah's AGI?
During 2019, Sarah had the following transactions: Salary $60,000 Interest income on IBM bonds 3,000 Inheritance from aunt 30,000 Contribution to traditional IRA 5,000 Whats Sarah's AGI?
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During 2019, Sarah had the following transactions:
Salary
$60,000
Interest income on IBM bonds
3,000
Inheritance from aunt
30,000
Contribution to traditional IRA
5,000
Whats Sarah's AGI?
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Sarah's AGI is $58000.
Please find attached calculation.
Note:-Inheritance from aunt is not taxable.
Step-by-step explanation
| Salary | 60,000 | |
| Add | Interest income on IBM bonds | 3,000 |
| Less | Contribution to traditional IRA | 5,000 |
| AGI | $58,000 |
