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Calculate taxable income for Keira Kennedy for 2020 based on the following information: Salary $150,000 Interest State of Connecticut Bond Interest $20,000 Keira's sister Kendra
Calculate taxable income for Keira Kennedy for 2020 based on the following information: Salary $150,000 Interest State of Connecticut Bond Interest $20,000 Keira's sister Kendra repaid her $30,000 she borrowed in 2015 Microsoft Dividend $15,000 Sole proprietorship Income $40,000 Keira inherited $100,000 from her late great uncle Karl Capital Gain $25,000 Keira's mother Kia gave her a $200,000 gift. Treasury Bond interest $20,000 Unemployment Compensation $25,000 Workman's Compensation $15,000 Keira found a braclet worth $10,000 on the beach. Keira received a $50,000 legal settlement for a broken leg from a fall at Target. Keira won $2,000 at Bingo Keira won a baking contest and received $1,000 Keira was the beneficiary of her Grandfather's life insurance policy. She received $100,000 Partnership income $50,000 Contribution to health savings account $2,000 Self Employment tax $8,000 Student loan interest paid $1,000 Contribution to qualified Individual Retirement Account $2,000 State income tax paid $20,000 Real estate taxes paid $10,000 Medical Expenses $40,000 Mortgage interest $50,000 the mortgage was signed in 2019. Charitable contributions $20,000
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