The following information applies to Emily's 2018 taxable income. Her filing status is single. Salary $85,000 Interest

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The following information applies to Emily's 2018 taxable income. Her filing status is single.

Salary $85,000

Interest income from bonds issued by Xerox 1,100

Alimony payments received (divorce finalized in 2014) 6,000

Contribution to traditional IRA 5,500

Gift from parents 25,000

Capital gain from stock investment, held for 7 months 2,000

Amount lost in football office betting pool 500

Age 40

Emily has no gambling winnings this year.

Emily's taxable income in 2018 is how much?

Related Book For answer-question

South-Western Federal Taxation 2019 Essentials Of Taxation Individuals And Business Entities

ISBN: 9781337702966

22nd Edition

Authors: William A. Raabe, James C. Young, Annette Nellen, David M. Maloney

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Posted Date: Jun 14, 2022 05:00 AM

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The following information applies to Emily's 2018 taxable income. Her filing status is single. Salary $85,000 Interest

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South-Western Federal Taxation 2019 Essentials Of Taxation Individuals And Business Entities

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