Compute the taxable income and tax liability for Madison for 2020 based on the following information. She is married, but has not seen or heard from her husband in 4 years. She owns her home and paid $2,500 in property taxes and $6,000 in home mortgage interest in 2020.

Salary	$60,000
Interest Income from City of Olathe Bonds	$2,600
Interest on CD from Bank of America	$2,000
Qualified Dividend from GE stock (she has owned the stock for several years)	$3,000
Life Insurance proceeds on death of Grandfather (Madison was the beneficiary of the policy)	$50,000
Inheritance received on death of Uncle Louie	$18,000
Itemized deductions (mortgage interest and property taxes)	$8,500
Dependents (children ages 12, 11, and 10 all live at home with Madison)	3
Age	44