In 2017, Jen, a single individual, reported the following items of income and deduction (Click the icon to view the items.) (Click the icon to view the standard deduction amounts.) Click the icon to vew the personal and dependency exemption and phase out amounts.) Requirement Jen owns 100% and is an active participant in the rental real estate activity. What is her taxable income for 2017? Begin by determining whether Jen is entitled to a deduction for rental real estate activities. (Enter "O" if Jen is not eligible for the deduction.) The deduction for rental real estate losses is Now determine the taxable income for 2017. Begin by calculating the adjusted gross income (AGI). Salary Interest income Adjusted gross income (AGI) Now calculate the itemized deductions. Property taxes on residence Investment interest expense Charitable contributions Miscellaneous itemized deductions Tax preparation fees Unreimbursed Less 2% of AGI Excess miscellaneous itemized deductions Total itemized deductions Compute her taxable income for 2017 Adjusted gross income (AGI Minus: Deductions from AGI: temized deductions Taxable income In 2017, Jen, a single individual, reported the following items of income and deduction (Click the icon to view the items.) (Click the icon to view the standard deduction amounts.) Click the icon to vew the personal and dependency exemption and phase out amounts.) Requirement Jen owns 100% and is an active participant in the rental real estate activity. What is her taxable income for 2017? Begin by determining whether Jen is entitled to a deduction for rental real estate activities. (Enter "O" if Jen is not eligible for the deduction.) The deduction for rental real estate losses is Now determine the taxable income for 2017. Begin by calculating the adjusted gross income (AGI). Salary Interest income Adjusted gross income (AGI) Now calculate the itemized deductions. Property taxes on residence Investment interest expense Charitable contributions Miscellaneous itemized deductions Tax preparation fees Unreimbursed Less 2% of AGI Excess miscellaneous itemized deductions Total itemized deductions Compute her taxable income for 2017 Adjusted gross income (AGI Minus: Deductions from AGI: temized deductions Taxable income