(29) Compute the taxable income for 2013 for Emily on the basis of the following information. Her filling is single. Salary
(29) Compute the taxable income for 2013 for Emily on the basis of the following information. Her filling is single.
Salary $85,000
Interest income from bonds issued by Xerox $1,100
Alimony payments received $6,000
Contribution to traditional IRA $5,500
Gift from parents $25,000
Capital gain from stock investment, held for 7months $2,000
Amount lost in office pool (sport gambling is illegal where
Emily lives) $500
Number of potential dependents (two cousins, who live in Canada) ?
Age 40
