Question
Dear CPA, Thank you for helping with my taxes. Here is my detail for 2022: Name: Lucy Miles, live in Seattle WA Age: 62 years
Dear CPA,
Thank you for helping with my taxes.
Here is my detail for 2022:
Name: Lucy Miles, live in Seattle WA
Age: 62 years old not married, with grown children who are 35 years old and 32 years old, do not live at home
I received $42,000 from my 401k retirement plan
I received $27,000 from a side job working part-time at Seattle Public library
I was injured on the job, while putting heavy books away.
I received in a lawsuit settlement: $10,000 for medical bills and physical therapy
I also received $5,000 in punitive damages
I received municipal state & local interest of $950
Short-term Gain on Apple stock sold of $1,000
Long-term care insurance payment income of $5,000
Medical Expenses and long-term care of $8,000 out of pocket
Medical Drugs out of pocket of $3,000
Donate to my church $6,000 and World Vision (501c3) $3,000 and gave to my daughter $12,000 for her birthday
Mortgage interest on my home for 2022 of $2,500 (debt is less than $750k)
Property taxes were $9,300
Sales tax of $2,900
1. What is my AGI?
2. Should I take the standard deduction or itemize? what amount?
3. What is Lucy's Tax liability? (see tax bracket below for 2022)
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