Karen, a single taxpayer, is a practicing accountant. She obtains permission to change her tax year from the calendar year to a year ending June 30. Her practice income for the six months ending June 30 is $54,000. In addition, Karen has $2,300 of interest income and $7,300 of itemized deductions. She is entitled to one exemption Karen, a single taxpayer, is a practicing accountant. She obtains permission to change her tax year from the calendar year to a year ending June 30. Her practice income for the six months ending June 30 is $54,000. In addition, Karen has $2,300 of interest income and $7,300 of itemized deductions. She is entitled to one exemption