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.

ekkarill92 answered 2 years ago
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