Question
Calculate the taxable income for Kiera Kennedy for 2017 based on the following information: Kiera is single. Kiera is 36 years old. Kiera files as
Calculate the taxable income for Kiera Kennedy for 2017 based on the following information: Kiera is single. Kiera is 36 years old. Kiera files as Head of Household
Wages $105,000
Alimony received $40,000
Child support received $15,000
Real estate taxes paid $10,000
Kiera donated $10,000 to The ASPCA The American Society for Prevention of Cruelty to Animals.
Unemployment compensation $25,000
Kiera had flood uninsured flood damage to her home in 2017 that qualifies as a casualty loss.
Qualified medical expenses $20,000
Gambling Winnings $20,000
Qualified mortgage interest $20,000
Unreimbursed employee business expenses $30,000
Sole proprietorship income from dog grooming business $40,000
Safety deposit box fee $2,000
Qualified unreimbursed moving expenses $20,000
Tax Preparation fees$3,000
New York State bond interest $40,000
IRA contribution $1,000
Qualified Tuition $1,000.
Kiera received an inheritance of $50,000 from her great uncle Kenneth
Kiera received dividends of $4,000 from Exxon
Kiera had capital loss of $22,000.
Kiera has two children under the age 19 who live with her the entire year. Allie provides more than half of their support.
State taxes paid $25,000
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