Multiple Choice
Marylee and George divorced in 2016 after 20 years of marriage during which time George gave up his career and stayed home with their children. In 2017, 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 2017. If George has no other income, what is his adjusted gross income for 2017?
A) $48,000
B) $120,000
C) $273,000
D) $498,000
Correct Answer:
Verified
Correct Answer:
Verified
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