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Calculate adjusted gross income and taxable income

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Reference no: EM132956508

Problem I. This year, Evan graduated from college and took a job as a deliveryman in the city. Evan was paid a salary of $72,300, and he received $700 in hourly pay for part-time work over the weekends. Evan summarized his expenses as follows:

1. Cost of moving his possessions to the city (125 miles away): $1,200
2. Interest paid on accumulated student loans: $2,800
3. Cost of purchasing a delivery uniform: $1,400
4. Contribution to state university deliveryman program: $1,300

Problem II. Assume that interest payments were required on Evan's student loans this year. Assume that Evan's filing status is single.

Problem III. Using TaxAct, complete page 1 of Evan's Form 1040 for 2019 to calculate his adjusted gross income (AGI) and taxable income. Export Form 1040.

Reference no: EM132956508

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