Alice Johnson a secretary. She is single and lives in Florida. She has hired you to prepare her tax return. Calculate using the information provided below Alice Johnson Taxable Income for 2018.

Alice's 2018 taxable income is determined below:

Salary 172,000

Municipal bond interest 2,600

Bank account interest 4,600

Alimony received 48,000

Capital gain on an asset held less than one year 6,000

Rental income from residential rental house 25,000

Expenses/losses:

Interest on principal residence 16,000

Real estate taxes on principal residence 2,000

Capital loss on an asset held less than one year 14,000

Expenses related to rental property

Mortgage interest 12,000

Repairs 4,800

Taxes 1,400

Depreciation 2,400