In 2020, 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.) 3 Data table Requirement Jen owns 100% and an active participant in the rental real estate activity. What is her taxable income for 2020? Salary $ 158,000 13,000 Interest income Begin by determining whether Jen is entitled to a deduction for rental real estate activities. (Enter "0" if Jen is not eligible for the deduction) 20,000 The deduction for rental real estate losses is Now determine the taxable income for 2020. Begin by calculating the adjusted gross income (AGI). Long-term capital gain from sales of stock Short-term capital losses from sales of stock Loss from a passive rental real estate activity Interest expense on loan to purchase stock Qualified residence interest on residence Charitable contributions Property taxes on residence Tax return preparation fees Unreimbursed employee business expenses (11,000) (21,000) (20,000) (17,000) (6,500) (4,500) (1,500) (2,200) Adjusted gross income (AGI) Now calculate the itemized deductions. Requirement Jen owns 100% and is an active participant in the rental real estate activity. What is her taxable income for 2020? INNOW calculate the itemized aeductions. Total itemized deductions V DRUGE Compute her taxable income for 2020. Adjusted gross income (AGI) Minus: Deductions from AGI Taxable income