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please show work. not sure if what I have is correct Problem 1 Sophia is not married and supports her 12 year old child who

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please show work. not sure if what I have is correct

Problem 1 Sophia is not married and supports her 12 year old child who lives with her. Sophia works as an employee with gross salaries and wages of $92,000. Sophia's only other income was interest of $4,300, qualifying dividends of $2,850, and other information follows: Contribution to solo(k) retirement plan, withheld from the salary Loss on sale of Alphatech stock held 2 years Mortgage interest on primary residence State and local property tax on residence Property tax included in personal auto registration State sales taxes paid State income taxes paid Charitable contributions of cash Political contributions $4,500 -$3,700 $6,950 $3,310 $160 $370 $1,800 $2,750 $550 All information is for 2020. Gross Income Calculate Sophia's adjusted gross income, taxable income, and gross tax. Show your work! Filing Status: Head of Household Salary/Wages S92,000 Interest 4,300 Dividends (net) 2,423 $98,723 Less: 404 Aca 401K 4500 Alphateck Stock 3000 (max is $3000 for capital losses) AGI $91,223 Less: Standard Deduction 18650 Taxable income 572,573 Gross lax $10,741 (includes the tax an dividends at 15%) Itemed Deductions: Mortgage interest on primary residence $6,950 State and local property tax on residence $3,310 Property tax included in personal auto registration S160 State income taxes paid $1,800 Charitable contributions of cash $2,750 $14,970 Can't do both sales tax and state income tax, so I chose the greater of the two Since Sophia can be head of household, I will use that deduction rather than the itemized deduction Also, political contributions are not deductible (Calculations in cells) Dividend Tax: 427.5 (taxed at 15%) $18,873 $4.152 6162 $10.314 Gross tax

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