Olivia Wolff was born on January 14, 1943. Olivia provides 60% of the support for her granddaughter, Emma. Emma, age 20, is a full time student at Brown University and lives on campus during the school year and with Olivia the remainder of the year. Emmas only income is $3,400 from a part-time job.

Olivia also fully supports her friend, Nora. Nora has been out of work for several years and has no income for 2019. Nora lives with Olivia for the entire 2019 year.

Additional facts that occurred during 2019 include: Olivia earned $60,000 as a teacher. Olivia received a scholarship for tuition at an art academy for the elderly of $10,000 and won $4,000 playing poker at the casino. Olivia received alimony of $19,000 from a divorce that was finalized in 2014, and she sold her personal residence in 2019 for a $15,000 loss. Olivias mother, May, passed away in 2019. Olivia was the beneficiary of her mothers life insurance policy for $10,000, and also inherited $20,000 in Goggle stock from her mothers estate. Olivia was temporarily out of work in 2019 and received $5,000 of unemployment compensation before she found her teaching job. Olivia was also injured in an automobile accident. Olivia received a $200,000 settlement, of which $10,000 was for punitive damages and $190,000 was for personal injuries.

Other Information for Olivia in 2019

Homeowners Insurance on Personal Residence $3,000

Mortgage Interest on Personal Residence $8,000

Real Estate Taxes paid on Personal Residence $8,200

Donation of 20 hours of time to the American Red Cross (Value of $20 per hour)

Donation of television. Olivia paid $500 for the TV, and its FMV was $100 when donated.

Out of Pocket health care costs for Olivia $15,000

Out of Pocket health care costs for Emma $5,000

Out of Pocket health care costs for Nora $3,000

Part 1- For 2019, what is the dependency status for Emma and Nora? You must list qualifying relative, qualifying child or not a dependent as your answer.

Part 2- What is Olivias 2019 AGI?

Part 3- What is Olivias 2019 Taxable Income?