Alexandra Operates a Garage as a Sole Proprietorship

Alexandra operates a garage as a sole proprietorship.Alexandra also owns a half interest in a partnership that operates a gas station.This year Alexandra paid or reported the following expenses related to her garage and other property.Determine Alexandra's AGI for 2017.
$$\begin{array} { l r } \text { Reverue frorn auto repairs } & \$ 143,930 \\\text { Salaries paid to rnecharnics } & 72,210 \\\text { Supplies and tools } & 18,500 \\\text { Reverues from gas station partrership (Alexardra's share) } & 125,000 \\\text { Experses from gas station patruership (Alexardra's share) } & 95,200 \\\text { Belf-ermploymert tax (1/2 is ermployer's share) } & 12,702\end{array}$$

Correct Answer:

Verified

$76,669
All of the expenses ar...

View Answer

Unlock this answer now
Get Access to more Verified Answers free of charge

View Full Answer For Free