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

Question 87

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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:  Health insurance premiums (not through an exchange) $4,200 Life insurance premiums (whole life) 1,900 Books on investing 200 Repairs of the rental property 450 Advertising for investment clients 1,770 State income taxes 4,300 Self employment tax (1/2 is employer share) 12,704\begin{array} { l r } \text { Health insurance premiums (not through an exchange) } & \$ 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 (1/2 is employer share) } & 12,704\end{array} Kaylee files single with one personal exemption. Calculate her adjusted gross income.

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$72,028 = ...

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