Problem 3-25 (a) (LO. 1, 8) The following information applies to Jasmine, who is single, for 2019: Salary Interest income from First Bank of Lexington Dividends from Watters Company stock $56,350 1,500 3,000 Contribution to a traditional IRA Loan repayment from her friend Capital loss from sale of personal vehicle Number of potential dependents 4,000 1,000 (2,300) Age Jasmine maintains a household for her sister, who has $9,000 from Social Security. In addition, Jasmine's aunt lives with her and has income of $3,000. Click here to access the standard deduction table to use. Indicate whether the following items are taxable or nontaxable to Jasmine. Taxable Salary Not taxable Loan repayment from a friend Taxable Interest income Dividend income Check My Work k here to access the standard deduction table to use. cate whether the following items are taxable or nontaxable to Jasmine. alary Taxable pan repayment from a friend Not taxable terest income Taxable vidend income Taxable ntify whether the items are deductible (fully or partially) by Jasmine. Deductible ontribution to a traditional IRA apital loss from sale of personal vehicle Not deductible nine's taxable income in 2019 is $ 36,550 X. Feedback Check My Work The Internal Revenue Code defines gross income broadly as "except as otherwise provided, all income from whatever source de as otherwise provided" refers to exclusions. Individual taxpayers have two categories of deductions: (1) deductions for adjusted (deductions to arrive at adjusted gross income) and (2) deductions from adjusted gross income. In lieu of claiming itemized dede will can the standard deduction. Problem 3-25 (a) (LO. 1, 8) The following information applies to Jasmine, who is single, for 2019: Salary Interest income from First Bank of Lexington Dividends from Watters Company stock $56,350 1,500 3,000 Contribution to a traditional IRA Loan repayment from her friend Capital loss from sale of personal vehicle Number of potential dependents 4,000 1,000 (2,300) Age Jasmine maintains a household for her sister, who has $9,000 from Social Security. In addition, Jasmine's aunt lives with her and has income of $3,000. Click here to access the standard deduction table to use. Indicate whether the following items are taxable or nontaxable to Jasmine. Taxable Salary Not taxable Loan repayment from a friend Taxable Interest income Dividend income Check My Work k here to access the standard deduction table to use. cate whether the following items are taxable or nontaxable to Jasmine. alary Taxable pan repayment from a friend Not taxable terest income Taxable vidend income Taxable ntify whether the items are deductible (fully or partially) by Jasmine. Deductible ontribution to a traditional IRA apital loss from sale of personal vehicle Not deductible nine's taxable income in 2019 is $ 36,550 X. Feedback Check My Work The Internal Revenue Code defines gross income broadly as "except as otherwise provided, all income from whatever source de as otherwise provided" refers to exclusions. Individual taxpayers have two categories of deductions: (1) deductions for adjusted (deductions to arrive at adjusted gross income) and (2) deductions from adjusted gross income. In lieu of claiming itemized dede will can the standard deduction
