Thelma works at a liquor store in 2017 and makes $44,000. she also has dividend income of $12,000 and interest income of $1,000. she owns a beach house that gives her $11,000 in net rental income and she owns a stake in a limited partnership that generates a $15,000 loss. what is her adjusted gross income in 2017?

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Business

Ivy Jimenez

11 February, 20:47

Thelma works at a liquor store in 2017 and makes $44,000. she also has dividend income of $12,000 and interest income of $1,000. she owns a beach house that gives her $11,000 in net rental income and she owns a stake in a limited partnership that generates a $15,000 loss. what is her adjusted gross income in 2017?

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Franklin Wang · Answer 1

The answer is "$57,000".

Thelma works at a liquor store in 2017 and makes = $44,000

dividend income = $12,000

interest income = $1,000

she owns a beach house that gives her $11,000 in net rental income

she owns a stake in a limited partnership that generates a $15,000 loss

This is how we calculate her adjusted gross income in 2017;

$44,000 + $12,000 + $1,000 + $11,000 - $11,000 (partnership loss limited to rental income) = $68,000 - $11,000

= $57,000