Lucy is a single taxpayer, aged 37. Her income consisted of $157,000 from wages, $400 in interest from a certificate of deposit, and $200 in interest from Texas Turnpike Authority Bonds. she has the following expenses:

A Compute her gross income

B Compute her adjusted income

C Compute her taxable income

contribution to an IRA $6,000, (she is not covered by a retirement plan at work) student loan interest $1,800 $60 penalty on early withdrawal from savings $1,800 paid to physicians, $2,000 dental bills, $800 for prescription medicines $6,500 in state income taxes withheld from her pay $4,750 in property taxes on her residence $5,800 in mortgage interest on her home $3,000 in contributions to her church $150 contributed to a go fund me page for a friend Standard Deduction Amounts for 2020 Single Maried filing jointly Head of Household Married filing separately $ 12,400 $ 24,800 $ 18,650 $ 12,400