Comprehensive Problem 745 LO 71 LO 72 LO 73 Algo Skip to question The following information applies to the questions displayed below Shauna Coleman is single She is employed as an architectural designer for Streamline Design SD Shauna wanted to determine her taxable income for this year 2022 She correctly calculated her AGI However she wasnt sure how to compute the rest of her taxable income She provided the following information with hopes that you could use it to determine her taxable income Shauna paid 4700 for medical expenses for care related to a broken ankle in October Also Shaunas boyfriend Blake drove Shauna in her car a total of 115 miles to the doctors office so she could receive care for her broken ankle Shauna paid a total of 3450 in health insurance premiums during the year not through an exchange SD did not reimburse any of this expense Besides the health insurance premiums and the medical expenses for her broken ankle Shauna had Lasik eye surgery last year and paid 3050 for the surgery she received no insurance reimbursement She also incurred 470 of other medical expenses for the year SD withheld 1850 of state income tax 7545 of Social Security tax and 14700 of federal income tax from Shaunas paychecks throughout the year In 2022 Shauna was due a refund of 270 for overpaying her 2021 state taxes On her 2021 state tax return that she filed in April 2022 she applied the overpayment toward her 2022 state tax liability She estimated that her state tax liability for 2022 will be 2350 Shauna paid 3250 of property taxes on her personal residence She also paid 520 to the developer of her subdivision because he had to replace the sidewalk in certain areas of the subdivision Shauna paid a 220 property tax based on the states estimate of the value of her car Shauna has a home mortgage loan in the amount of 230000 that she secured when she purchased her home The home is worth about 410000 Shauna paid interest of 12500 on the loan this year Shauna made several charitable contributions throughout the year She contributed stock in ZYX Corporation to the Red Cross On the date of the contribution the fair market value of the donated shares was 1200 and her basis in the shares was 480 Shauna originally bought the ZYX Corporation stock in 2009 Shauna also contributed 320 cash to State University and religious artifacts she has held for several years to her church The artifacts were valued at 520 and Shaunas basis in the items was 320 Shauna had every reason to believe the church would keep them on display indefinitely Shauna also drove 200 miles doing churchrelated errands for her minister Finally Shauna contributed 1250 of services to her church last year Shauna paid 270 in investment advisory fees and another 170 to have her tax return prepared that is she paid 170 in 2022 to have her 2021 tax return prepared Shauna is involved in horse racing as a hobby During the year she won 2550 in prize money and incurred 12000 in expenses She has never had a profitable year with her horseracing activities so she acknowledges that this is a hobby for federal income tax purposes Shauna sustained 2050 in gambling losses over the year mostly horseracing bets and had only 220 in winnings