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A married taxpayer, age 57, has the following receipts: Salary $50,000 Dividends from stock of domestic corporation 1,455 Interest on state toll road bonds 750

A married taxpayer, age 57, has the following receipts:

Salary $50,000

Dividends from stock of domestic corporation 1,455

Interest on state toll road bonds 750

Gambling winnings 110

Rents 5,600

During the tax year, the taxpayer pays $2,200 in taxes on his rental property and $2,650 for its operation and maintenance. He had gambling losses of $65. He made no charitable contributions. Calculate the taxpayers gross income and adjusted gross income, and taxable income. Show your work!

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