Multiple Choice
Marylee and George divorced in 2012 after 20 years of marriage during which time George gave up his career and stayed home with their children.In 2013,Marylee,the CEO of a mail order company,transfers their home valued at $450,000 and held in joint tenancy to George as part of the divorce settlement.She will also pay George $4,000 per month alimony and $6,000 per month in child support beginning in January of 2013.If George has no other income,what is his adjusted gross income for 2013?
A) $48,000
B) $120,000
C) $273,000
D) $498,000
Correct Answer:
Verified
Correct Answer:
Verified
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