Victoria, age 66, is an unmarried, cash basis, calendar year taxpayer with no dependents. Victoria has the

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Victoria, age 66, is an unmarried, cash basis, calendar year taxpayer with no dependents. Victoria has the following income and deductions for 2019:

RECEIPTS FOR YEAR

Salary from local school district $ 63,000

Interest from Friendly Bank 1,235

Interest from City of Santee bonds 1,100

Dividends from Tandem Diabetic (qualified) 375

Loss from sale of Tandem Diabetic held 36 months - 3,200

EXPENDITURES FOR YEAR Itemized deductions $ 13,200

Calculate Victoria’s adjusted gross income, taxable income, and federal income tax. Show your work. Gross income tax = $_____________

Related Book For answer-question

Microeconomics

ISBN: 978-1429283434

3rd edition

Authors: Paul Krugman, Robin Wells

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Posted Date: Oct 28, 2020 07:49 PM

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Victoria, age 66, is an unmarried, cash basis, calendar year taxpayer with no dependents. Victoria has the

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C E 1 Solution 2 Abbeys salary 63000 3 Interest from friendly bank 1235 4 ... View the full answer

Microeconomics

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