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19 October, 22:17

Thelma works at a liquor store in 2018 and makes $44,000. She also has dividend income of $12,000 and interest income of $1,000. She owns a beach house that gives her $11,000 in net rental income and she owns a stake in a limited partnership that generates a $15,000 loss. What is her adjusted gross income in 2018?

A. 58000B. 45000C. 69000D. 57000

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  1. 20 October, 01:24
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    Answer: option (d) is correct.

    Explanation:

    Given that,

    Thelma makes (salary) = $44,000

    dividend income = $12,000

    interest income = $1,000

    net rental income = $11,000

    Loss from stake = $15,000 loss (taking $11000 as loss because partnership loss limited to rental income)

    Adjusted gross income in 2018 = Thelma salary + dividend income + interest income + net rental income - Loss from stake

    = $44,000 + $12,000 + $1,000 + $11,000 - 11000

    = $57000
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