Deduction for self-employment taxes

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Reference no: EM131223109

For 2016 , Rita Picard, who was self-employed, had $50,000 of net earnings from self-employment, $10,000 in dividends, and $5,000 in taxable interest. She deducts $3,000 for self-employed health insurance and $3,825 for the r deduction for self-employment taxes. She also deducts $8,000 for home mortgage interest, $2,000 for state income taxes, and $4,000 for real estate taxes. Rita is single with no depended. Based on these facts, what is Rita’s adjusted gross income?

Reference no: EM131223109

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Deduction for self-employment taxes : For 2016 , Rita Picard, who was self-employed, had $50,000 of net earnings from self-employment, $10,000 in dividends, and $5,000 in taxable interest. She deducts $3,000 for self-employed health insurance and $3,825 for the r deduction for self-emplo..

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