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Business, 06.05.2020 03:10 chriscook1466

Jeremy and Alyssa Johnson have been married for five years and do not have any children. Jeremy was married previously and has one child from the prior marriage. He is self-employed and operates his own computer repair store. For the first two months of the year, Alyssa worked for Office Depot as an employee. In March, Alyssa accepted a new job with Super Toys Inc. (ST), where she worked for the remainder of the year. This year, the Johnsons received $274,000 of gross income. Expenses associated with Jeremy’s store include $44,750 in salary (and employment taxes) to employees, $50,700 of supplies, and $19,900 in rent and other administrative expenses. As a salesperson, Alyssa incurred $2,190 in travel expenses related to her employment that were not reimbursed by her employer. The Johnsons own a piece of raw land held as an investment. They paid $690 of real property taxes on the property and they incurred $295 of expenses in travel costs to see the property and to evaluate other similar potential investment properties. The Johnsons own a rental home. They incurred $8,690 of expenses associated with the property. Jeremy paid $4,690 for health insurance coverage for himself (not through an exchange). Alyssa was covered by health plans provided by her employer, but Jeremy is not eligible for the plan until next year. Jeremy paid $2,690 in self-employment taxes ($1,345 represents the employer portion of the self-employment taxes).Jeremy paid $5,380 in alimony and $3,285 in child support from his prior marriage (divorced in 2010).The Johnsons donated $2,190 to their favorite charity. Required:A. Determine the Johnson's AGI given the above information:

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