During 2018, marvin had the following transactions: salary $50,000 bank loan (proceeds used to buy personal auto) 10,000 alimony paid (divorce was finalized in 2010). 12,000 child support paid 6,000 gift from aunt 20,000 marvin's agi is: a. $38,000. b. $32,000. c. $56,000. d. $44,000. e. $64,000.
$50,000 (Salary) - $12,000 (Alimony) = $38,000.
The gift is an exclusion while the child support is nondeductible. Amounts borrowed are not income.
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