Ask Question
4 December, 16:17

Thelma works at a liquor store in 2018 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 2018?

A. 58000B. 45000C. 69000D. 57000

+1
Answers (1)
  1. 4 December, 16:26
    0
    Answer: option (d) is correct.

    Explanation:

    Given that,

    Thelma makes (salary) = $44,000

    dividend income = $12,000

    interest income = $1,000

    net rental income = $11,000

    Loss from stake = $15,000 loss (taking $11000 as loss because partnership loss limited to rental income)

    Adjusted gross income in 2018 = Thelma salary + dividend income + interest income + net rental income - Loss from stake

    = $44,000 + $12,000 + $1,000 + $11,000 - 11000

    = $57000
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Thelma works at a liquor store in 2018 and makes $44,000. She also has dividend income of $12,000 and interest income of $1,000. She owns a ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers