Amir, who is single, retired from his job this year. He received a salary of $25

Question

Amir, who is single, retired from his job this year. He received a salary of $25,000 for the portion of the year that he worked, tax-exempt interest of $3,000, and dividends from domestic corporations of $2,700. On September 1, he began receiving monthly pension payments of $1,000 and Social Security payments of $600. Assume an exclusion ratio of 40% for the pension. Amir owns a duplex that he rents to others. He received rent of $12,000 and incurred $17,000 of expenses related to the duplex. He continued to actively manage the property after he retired from his job. Compute Amir's adjusted gross income.

Explanation / Answer

This is not really trigenometry. All you have to do is add, subrtact and multiply where necessary: + 25,000 + 3,000 + 2,700 + [1000+600-(1000x.4)] x 4

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