Comprehensive Problem 6-61 (LO 6-1, LO 6-2, LO 6-3) (Algo) This year (2023), Evan graduated...
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Accounting
Comprehensive Problem 6-61 (LO 6-1, LO 6-2, LO 6-3) (Algo)
This year (2023), Evan graduated from college and took a job as a deliveryman in the city. Evan was paid a salary of $80,900 and he received $700 in hourly pay for part-time work over the weekends. Evan summarized his expenses as follows:
Cost of moving his possessions to the city (125 miles away)
$ 1,200
Interest paid on accumulated student loans
3,040
Cost of purchasing a delivery uniform
1,640
Contribution to State University deliveryman program
1,420
Calculate Evan's AGI and taxable income if he files single. Assume that interest payments were initially required on Evan's student loans this year.
Evans AGI
Taxable Income
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