Question: 3. Individual Tax Computation: 5 points Indy Smith, single, is an anthropology professor at State University. The tax records that he brought to you for

3. Individual Tax Computation: 5 points Indy Smith, single, is an anthropology professor at State University. The tax records that he brought to you for preparation of his return revealed the following items. Income Salary from State University. Part-time consulting . . Dividend income (Non-Qualifying). Reimbursement of travel to Denver by State University for conference. .. $67,850 ..5,000 . 1,250 .... 200 Expenses Interest on personal residence. Travel expenses related to consulting. Tax return preparation fee. Safe deposit box to hold bonds. .. $9,800 .. 1,000 ... 500 ...50 Travel and lodging to present academic paper in Denver related to his teaching position. Charitable contributions. Real estate taxes..... State and local income taxes .....450 ...2,750 ...7,750 ....3,250 In addition, Indy's father qualifies as his dependent for whom he provides 60 percent of his support (including 60 percent of housing costs). Idm. Ignore self-employment taxes. 1. Determine Indy's Filing Status 2. Compute Adjusted gross income 3. Compute taxable income 4. Determine Indy's final tax liability for calendar year 2024 5. Are any credits available to Indy

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