D, a single taxpayer, holds a 25% ownership interest in an LLC that operates a department store.

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D, a single taxpayer, holds a 25% ownership interest in an LLC that operates a department store. D’s allocable share of net operating income from the LLC is $$100,000$ for the year. D also works part-time as an employee, earning a salary of $$40,000,$ and receives $$5,000$ of interest income from a personal bank account. Assuming D claims a standard deduction of $$12,000,$ determine D’s taxable income for the year.

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