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Camille Sikorski was divorced in 2018. She currently provides a home for her 15-year-old daughter Kaly. Kaly lived in Camille's home for the entire
Camille Sikorski was divorced in 2018. She currently provides a home for her 15-year-old daughter Kaly. Kaly lived in Camille's home for the entire year, and Camille paid for all the costs of maintaining the home. Camille received a salary of $82,500 and contributed $5,300 of it to a qualified retirement account (a for AGI deduction). She also received $11,500 of alimony from her former husband (per divorce decree issued in 2018). Finally, Camille paid $16,400 of expenditures that qualified as itemized deductions. (Use the tax rate schedules.) b. What would Camille's taxable income be if she incurred $25,400 of itemized deductions, instead of $16,400? (1) Gross income (2) For AGI deductions (3) Adjusted gross income Description Amount $ 94,000 5,300 $ 88,700 (4) Standard deduction (5) Itemized deductions 25,400 (6) Lesser of standard deduction or itemized deductions Taxable income (25,400) $ 63,300
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