Business, 30.04.2021 20:40 molinaemily009
g Alex, single, earns wags of $42,000 in 2020. He also conducts an activity that produces the following revenues and expenses: Revenues $18,000 Expenses Property taxes 3,000 Materials and supplies 4,500 Utilities 2,000 Advertising 5,000 Insurance 750 Cost Recovery 8,000 Alex also pays mortgage interest during the year of $8,000. 1. Assuming the activity is a business, Alex' 2019 AGI is $ and his taxable income is $ . 2. Assuming the activity is NOT a business, Alex' 2019 AGI is $ and his taxable income is $ .
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g Alex, single, earns wags of $42,000 in 2020. He also conducts an activity that produces the follow...
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