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Hope is single and a marketing manager at a local company. Information about her 2019 income and expenses is as follows: Income received Salary $160,000

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Hope is single and a marketing manager at a local company. Information about her 2019 income and expenses is as follows: Income received Salary $160,000 Taxes withheld from salary: Federal income tax $30,000 State income tax 9,500 Interest income from bank 8,000 7,000 Dividend income from U.S. stocks Short-term capital gain Long-term capital loss 5,000 2,000 Expenses paid: Unreimbursed dental and eyecare costs $2,800 Property taxes on her home 4,900 Fees paid to town for garbage pick-up 600 Donation to American Red Cross 6,700 Home mortgage interest 10,000 Investment interest expense 4,000 300 Interest on car loan Compute Hope's taxable income for the year in good form. Show all supporting computations. Hope is single, and she elects to itemize her deductions each year. Assume she does not make any elections regarding the investment interest expense. Hope is single and a marketing manager at a local company. Information about her 2019 income and expenses is as follows: Income received Salary $160,000 Taxes withheld from salary: Federal income tax $30,000 State income tax 9,500 Interest income from bank 8,000 7,000 Dividend income from U.S. stocks Short-term capital gain Long-term capital loss 5,000 2,000 Expenses paid: Unreimbursed dental and eyecare costs $2,800 Property taxes on her home 4,900 Fees paid to town for garbage pick-up 600 Donation to American Red Cross 6,700 Home mortgage interest 10,000 Investment interest expense 4,000 300 Interest on car loan Compute Hope's taxable income for the year in good form. Show all supporting computations. Hope is single, and she elects to itemize her deductions each year. Assume she does not make any elections regarding the investment interest expense

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