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Karen is single and claims one exemption. Last year she earned $36,300 in wages. Additional tax information for the year is as follows: interest earned:
Karen is single and claims one exemption. Last year she earned $36,300 in wages. Additional tax information for the year is as follows: interest earned: $125; capital gains from sale of stock: $1,650; penalty on early withdrawal of savings: $300; contributions to Keogh retirement fund: $1,900; real estate taxes paid: $3,000; mortgage interest paid: $3,100. Find the taxable income for the year.
THE ANSWER IS $25,875
I JUST WANT TO SEE THE WORK, SO I KNOW HOW TO SOLVE SIMILAR PROBLEMS.
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