Compute the taxable income for 2017 for Emily on the basis of the following information. Her filing status 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
Short-term capital gain from stock investment .............................. 2,000
Amount lost in football office pool .............................................. 500
Number of potential dependents (two cousins, who live in Canada) ............?
Age .......................................................................................40