During 2012, Milton Hanover was granted a divorce from his wife. fte divorce decree stipulated that he was to pay both alimony and child support for a speciﬁed period of time. In examining his records for 2012, the following information is available: What is Hanover's adjusted gross income for 2012?

Question

During 2012, Milton Hanover was granted a divorce from his wife. fte divorce decree stipulated that he was to pay both alimony and child support for a speciﬁed period of time. In examining his records for 2012, the following information is available:  What is Hanover's adjusted gross income for 2012?

Quizplus · Accepted Answer

Hanover's adjusted gross income for 2012 is $48,400. Interest on municipal bonds is excluded
 the refore, he had $52,000 in income less $3,600 of alimony payments.

During 2012, Milton Hanover Was Granted a Divorce from His