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Name: During the current year. Donna, a single taxpayer, reports the following items income of income and expenses: Income: Salary $86,000 Municipal bond interest 1,

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Name: During the current year. Donna, a single taxpayer, reports the following items income of income and expenses: Income: Salary $86,000 Municipal bond interest 1, 300 Bank account interest 2, 300 Alimony received 24,000 Capital gain on an asset held less than one year 3,000 Rental income from residential rental house 12, 500 Expenses/losses: Interest on principal residence 8,000 Real estate taxes on principal residence 1,000 Capital loss on an asset held less than one year 7,000 Expenses related to rental property Mortgage interest 6,000 Repairs 2, 400 Taxes 700 Depreciation 1, 200 Compute Donna's taxable income. (Show all calculations in good form.)

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