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Misti purchased a residence this year. Misti, age 32, is a single parent and lives with her 1-year-old daughter. This year, Misti received a salary
Misti purchased a residence this year. Misti, age 32, is a single parent and lives with her 1-year-old daughter. This year, Misti received a salary of $160,000 and made the following payments: Medical Expenses $2000 Home mortgage interest ($500,000 acquisition debt) $15,000 Real estate taxes 4,000 State income taxes paid 1,300 Income tax preparation fee 250 Charitable contributions (cash to their church) 1000 Misti files as a head of household. Calculate her taxable income this year.
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