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 .
- Patrica is employed as an interior designer; her compensation is .
- Revis and Patrica have total allowable itemized deductions of .
- Revis and Patrica have two dependent children.
- Revis and Patrica have other economic income as follows:
- Interest on U.S. Treasury bonds .
- Interest on French government bonds .
- Interest on City of Miami, Fla bonds .
- Patrica won from the state lottery
- Revis's wealthy uncle dies and leaves him .
- Patrica sold Revis's baseball card collection for . Revis bought it for .
- Patrica sells Revis's fishing boat for . Revis had purchased the boat for .
A) $135,450
B) $158,950
C) $159,450
D) $160,650
E) $169,450
Correct Answer:
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