Jeannie a single taxpayer retired during the year to take, Ask an Expert

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Jeannie, a single taxpayer, retired during the year, to take over the management of some rental property. She had the following items of income and expense:

Salary prior to retirement date $34,000
Dividends from domestic corporation 4,000
City of Los Angeles bonds 5,000
Pension (60% exclusion ratio) 12,000
Share of partnership income 14,000
Partnership distribution 10,000
Rent income 7,000
Rent expenses 9,000

What is Jeannie's adjusted gross income for the year?

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