Kelly Martin is divorced; her child, Barbara, lives with her and is her dependent. Kelly has the following items of income and expense:

Compute Kelly’s taxable income and her net tax due or refund expected for 2017.

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Income: Salary Cash dividends Interest income on City of New York bonds Interest income on U.S. Treasury bills Net rental income $ 60,000 3,000 5,000 4,000 3,500 Alimony received from ex-husband 2,500 Child support received from ex-husband 3,500 Life insurance proceeds received on the death of her mother 100,000 Sales of Capital Assets: Stock held for 3 months (basis is $12,000) sold for 18,000 Investment land held 5 years (basis is $30,000) sold for 14,000 Expenses: Interest on the $150,000 principal from her home acquisition mortgage 6,000 Real property taxes on the home 2,000 Charitable contributions 7,000 Qualifying child care expense 3,700 Federal income tax withheld 6,000