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What is Ashley Adjusted Gross Income

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Reference no: EM132817509

Question - Ashley had the following financial items during 2020:

Salary $90,000 Interest income on bonds-Issued by City of Nashville $4,000

Issued by Chevron Corporation 5,000

Alimony received (divorce finalized in 2017) - 25,000

Child support received (divorce finalized in 2017) - 20,000

State income taxes paid - (5,000)

Inheritance from grandmother - 50,000

Required - What is Ashley's Adjusted Gross Income (AGI) for 2020?

a. $120,000

b. $119,000

c. $165,000

d. $140,000

Reference no: EM132817509

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