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Kristal is single. Last year she earned $39,800 in wages. Additional tax information for the year is as follows: Interest earned: $129; capital gains from
Kristal is single. Last year she earned $39,800 in wages. Additional tax information for the year is as follows: Interest earned: $129; capital gains from sale of stock: $1,750; alimony paid: $6,200; contributions to IRA retirement fund: $2,900; real estate taxes paid: $1,800; mortgage interest paid: $5,100. The following table gives the standard deduction for various filing statuses.
Single or married filing separately | $12,000 |
---|---|
Married filing jointly or surviving spouse | $24,000 |
Head of household | $18,000 |
65 or older and/or blind and/or someone else can claim you (or your spouse if filing jointly) as a dependent: | Varies (See www.irs.gov for information.) |
Find the taxable income for the year.
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