Marsha is single, had gross income of $50,000, and incurred the following expenses: charitable contribution - $2,000 taxes and interest on home - 7,000 legal fees incurred in a tax dispute - 1,000 medical expenses - 3,000 penalty on early withdrawal of savings - 250 her agi is:

Adjusted gross income = $51000

Explanation:

given data

gross income = $50,000

Charitable contribution = $2,000

Taxes and interest  =  $7,000

Legal fees  = $1,000

Medical expenses = $3,000

Penalty = $250

to find out

Adjusted gross income AGI

solution

we get here Adjusted gross income AGI is express as

Adjusted gross income = gross income + Taxes and interest - Charitable contribution - Legal fees - Medical expenses  1

put here value we get

Adjusted gross income = $50,000 +  $7,000 - $2,000 - $1,000 - $3,000

Adjusted gross income = $51000

answer; /// blank(1); above; blank(2); less;

the amount of money you earn by working is your income.

the percentage of people actively looking for a job is called unemployment.