Question
In: Accounting
Brian had the following items of income this year. Salary - $22,000 Child support received -...
Brian had the following items of income this year.
- Salary - $22,000
- Child support received - $6,000
- Alimony received (divorce finalized June 1, 2017)- $10,000
- Rent income of $2,000 and Royalty income of $3,000
Calculate Brian's gross income for the current year.
Group of answer choices
a. $27,000
d. $43,000
b. $34,000
c. $37,000
Solutions
Expert Solution
Calculate Brian's gross income for the current year.
Answer : c. $37,000
Calculation
| Computation of gross income of Bryan | |
| Salary | $ 22000 |
| Alimony received | $ 10000 |
| Rent income | $ 2000 |
| Royalty Income | $ 3000 |
| gross income of Bryan | $ 37000 |
Note -1
The child support is not Taxable income.
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