Kaylee is a self-employed investment counselor who also owns a rental property.This year, she collected $85,000 in fees and paid the following expenses:
$\begin{array}{llcc}
\text {Health insurance premiums } &\$4,200 \
\text { Life insurance premiums (whole life)} &1,900\
\text {Books on investing } &200\
\text {Repairs of the rental property } &450\
\text { Advertising for investment clients } &1,770\
\text { State income taxes } &4,300\
\text {Self-employment tax (half is employer share) } &11,732
\end{array}$
Kaylee files single with one personal exemption.Calculate her adjusted gross income.

Question

Kaylee is a self-employed investment counselor who also owns a rental property.This year, she collected $85,000 in fees and paid the following expenses:
 $\begin{array}{llcc}
  \text {Health insurance premiums  } &\$4,200  \
 \text {  Life insurance premiums (whole life)} &1,900\
 \text {Books on investing  } &200\
 \text {Repairs of the rental property  } &450\
 \text { Advertising for investment clients } &1,770\
 \text { State income taxes } &4,300\
\text {Self-employment tax (half is employer share)  } &11,732
\end{array}$
 Kaylee files single with one personal exemption.Calculate her adjusted gross income.

Quizplus · Accepted Answer

The Answer of Kaylee is a self-employed investment counselor who also owns a rental property.This year, she collected $85,000 in fees and paid the following expenses:
 $\begin{array}{llcc}
  \text {Health insurance premiums  } &\$4,200  \
 \text {  Life insurance premiums (whole life)} &1,900\
 \text {Books on investing  } &200\
 \text {Repairs of the rental property  } &450\
 \text { Advertising for investment clients } &1,770\
 \text { State income taxes } &4,300\
\text {Self-employment tax (half is employer share)  } &11,732
\end{array}$
 Kaylee files single with one personal exemption.Calculate her adjusted gross income.

Kaylee Is a Self-Employed Investment Counselor Who Also Owns a Rental