Compute the taxable income for 2019 for Emily on the basis of the following information. Her filing

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Compute the taxable income for 2019 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 (divorce occurred in 2014).............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 

Age.........................................................................................................40

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South-Western Federal Taxation 2020 Essentials Of Taxation Individuals And Business Entities

ISBN: 9780357109175

23rd Edition

Authors: Annette Nellen, James C. Young, William A. Raabe, David M. Maloney

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