Calculate austin agi and taxable income

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Reference no: EM13974393

Austin, a single individual with a salary of $100,000, incurred and paid the following expenses during the year:

Medical expenses ...................$5,000
Alimony ......................$24,000
Charitable contributions ...............$2,000
Casualty loss on business property ............$8,000
Casualty loss on rental property ..............$5,000
Personal casualty gains ................$3,000
Personal casualty losses (after $100 floor) ........$12,000
Non business bad debt .................$6,000
Mortgage interest on personal residence .........$4,500
Property taxes on personal residence ...........$4,200
Moving expenses ...................$2,500
Contribution to a traditional IRA ............$4,000
State income taxes .................$1,300
Unreimbursed employee expenses ............$2,500
Investment income .................$6,000
Investment expenses .................$8,000

Calculate Austin's AGI and taxable income.

Reference no: EM13974393

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