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Kerri is single and claims two exemptions. Last year she earned $48,800 in wages. Additional tax information for the year is as follows: interest earned:
Kerri is single and claims two exemptions. Last year she earned $48,800 in wages. Additional tax information for the year is as follows: interest earned: $229; capital gains from sale of stock: $2,650; penalty on early withdrawal of savings: $400; contributions to Keogh retirement fund: $1,500; real estate taxes paid: $4,500; mortgage interest paid: $4,200. Find the taxable income for the year.
a.) $33,479
b.) $44,150
c.) $37,795
d.) $39,912
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