During 2019, Enrique had the following transactions: Salary $70,000 Interest income on Xerox bonds 2,000 Inheritance from uncle 40,000 Contribution to traditional IRA 5,500 Capital losses 2,500

Esther's AGI is
a. $62,000.
b. S64.000.

The correct answer is B

Explanation:

Calculation of AGI for 2019 -

Salary Income                                                                                $70,000

Interest income on Xerox bonds                                                 $2,000

Inheritance from uncle                                                                  $ 40,000

Deduction : Capital Loss                                                        ($2500)

Contribution to traditional IRA                                                 ($5500)

Inheritance from uncle                                                              ($40,000)

Total =                                                                                          $64,000

biomass

Explanation: