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Gross Income for the year

P. I:3-30 and comprehensive. Solution: $44,000 + $8,000 + $4,800 ($12,000 x .40) + $30,000 + $7,000 – $9,000 = $84,800. She had the following items of income and expense: Salary prior to retirement $44,000 Dividends from domestic corporation 8,000 City of Los Angeles bonds 3,000 Pension (60% exclusion ratio) 12,000 Share of partnership income 30,000 Partnership distribution 10,000 Rent income 7,000 Rent expenses 9,000 What is Jeannies Adjusted Gross Income for the year?

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