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The Information That Follows Applies to the Current Year for Revis

Question 95

Multiple Choice

The information that follows applies to the current year for Revis and Patrica, a married couple.
Based on the above information, what is Revis and Patrica 's adjusted gross income?
- Revis is employed as a shoe salesman; his compensation is $65,000\$ 65,000 .
- \quad Patrica is employed as an interior designer; her compensation is $90,000\$ 90,000 .
- Revis and Patrica have total allowable itemized deductions of $15,000\$ 15,000 .
- Revis and Patrica have two dependent children.
- Revis and Patrica have other economic income as follows:
- Interest on U.S. Treasury bonds $1,000\$ 1,000 .
- Interest on French government bonds $750\$ 750 .
- Interest on City of Miami, Fla bonds $1,200\$ 1,200 .
- Patrica won $500\$ 500 from the state lottery
- Revis's wealthy uncle dies and leaves him $10,000\$ 10,000 .
- Patrica sold Revis's baseball card collection for $3,000\$ 3,000 . Revis bought it for $800\$ 800 .
- Patrica sells Revis's fishing boat for $2,000\$ 2,000 . Revis had purchased the boat for $2,500\$ 2,500 .


A) $135,450
B) $158,950
C) $159,450
D) $160,650
E) $169,450

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