Question: Misti purchased a residence this year. Misti is a single parent and lives with her 1year old daughter. This year, Misti received a salary of
Misti purchased a residence this year. Misti is a single parent and lives with her 1year old daughter. This year, Misti received a salary of $63,000 and made the following payments:
| Home mortgage interest | $2,335 |
| Real estate taxes | 1,525 |
| State income taxes paid | 1,340 |
| Income tax preparation fee | 250 |
| Charitable contributions (cash to their church) | 120 |
Misti files as a head of household and claims two exemptions. Calculate her taxable income this year.
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