Jill, age 48, has been divorced since 2019 and keeps a home for her two dependent children (ages 13 and 17) and also for her mother who Jill does claim as a dependent. She reports the following transactions during 2020:

Salary	$129,000
Interest income on municipal bonds	3,000
Withdrawal from bank savings account, including $200 of interest	4,100
Dividends received on XYZ Stock	1,000
Alimony she received from her ex-spouse under a 2019 divorce agreement	9,000
Unemployment Compensation collected	8,000
Life Insurance proceeds received as a beneficiary on dads policy	50,000
Cash gift received from her father before his death	75,000
Capital loss on sale of stock investments	4,500
Child support received from her ex-husband	12,000
Inheritance received from her deceased aunt	15,000
College scholarship prize for tuition for winning an essay contest	2,000
Bank loan obtained to pay for car purchase	22,000
Contribution to a traditional IRA	5,000
Itemized deductions	20,000

Required: Show the calculation of the following for Jill for 2020 and please label each answer completely, show the details of each calculation so any applicable partial credit can be awarded:

(a) Adjusted gross income (AGI)

(b) Taxable Income

(c) What is Jill's filing status for 2020?

(d) Show the calculation of Jill's income tax using the 2020 tax rate schedules in Appendix A of your textbook for her appropriate filing status based on the information given.

(e) What is the amount of child tax credit and dependent tax credit that Jill is entitled to? List each and label carefully.

(f) Show the net amount Jill will owe after the tax credits in part d.

(g) What is Jill's marginal tax rate for 2020?

(h) What is Jill's average or effective tax rate for 2020 based on the net tax due in part e?