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Compute Taxable income for current year. Filing status is single Salary $80,000 Interest income from municipal Bonds: $3,000. Alimony payments received: $3,600. Contribution to traditional
Compute Taxable income for current year. Filing status is single Salary $80,000 Interest income from municipal Bonds: $3,000. Alimony payments received: $3,600. Contribution to traditional IRA: $5,000 Gift from Grandparents: $20,000. Capital Gain from stock investment, held for 7 months: $30,000 Amount lost in football office pool (sports gambling is illegal in that area) $1,500 Number of potential dependents(two cousins who live in Canada) ? Age 35
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