Rocco operates a beauty salon as a sole proprietorship. Rocco also owns and rents an apartment building. In Rocco had the following income and expenses. You may assume that Rocco will owe $ in selfemployment tax on his salon income, with $ representing the employer portion of the selfemployment tax. You may also assume that his divorce from Svetlana was finalized in
Interest income $
Salon sales and revenue
Salaries paid to beauticians
Beauty salon supplies
Alimony paid to his exwife, Svetlana
Rental revenue from apartment building
Depreciation on apartment building
Real estate taxes paid on apartment building
Real estate taxes paid on personal residence
Contributions to charity
a Determine Rocco's AGI.
Note: Amounts to be deducted should be Indicated by a minus sign.
tableInterest income,,Salon revenue,,Operating income from salon,,Apartment building revenue,,Apartment building income,,AGI
