Comprehensive Bonus Problem James Taylor, age 40, a single taxpayer, is a sales manager with a national firm. This year, he was transferred to a location in another state. From the following information, compute his taxable income. Circle your final answer. You must show work to receive any credit Wages received from his employer Interest income Dividends (Ordinary) Moving Expenses $90,000 2,500 1,500 Expenses to move household goods ..$4,500 Travel from old residence to new location $1,500 Temporary living expenses in new location......$2,000 Real estate commision on sale of old home$7.000 Medical Expenses Charitable contributions Investment interest Interest on home mortgage Real estate taxes Federal income taxes State and local income taxes State and local sales taxes Unreimbursed job related expenses (subscriptions, union dues, & travel expenses) Fee for preparation of tax return 15,000 9,200 4,000 5,000 7,000 2,500 10,000 4,800 3,200 1,925 250 In addition, James car (value - $23,000, cost - $28,000) was stolen during the year. The insurance reimbursement was only $10,000 Comprehensive Bonus Problem James Taylor, age 40, a single taxpayer, is a sales manager with a national firm. This year, he was transferred to a location in another state. From the following information, compute his taxable income. Circle your final answer. You must show work to receive any credit Wages received from his employer Interest income Dividends (Ordinary) Moving Expenses $90,000 2,500 1,500 Expenses to move household goods ..$4,500 Travel from old residence to new location $1,500 Temporary living expenses in new location......$2,000 Real estate commision on sale of old home$7.000 Medical Expenses Charitable contributions Investment interest Interest on home mortgage Real estate taxes Federal income taxes State and local income taxes State and local sales taxes Unreimbursed job related expenses (subscriptions, union dues, & travel expenses) Fee for preparation of tax return 15,000 9,200 4,000 5,000 7,000 2,500 10,000 4,800 3,200 1,925 250 In addition, James car (value - $23,000, cost - $28,000) was stolen during the year. The insurance reimbursement was only $10,000