Problem 3-25 (LO. 1, 8)

The following information applies to Emilys 2018 taxable income. Her filing status is single.

Salary	$85,000
Interest income from bonds issued by Xerox	1,100
Alimony payments received (divorce finalized in 2014)	6,000
Contribution to traditional IRA	5,500
Gift from parents	25,000
Capital gain from stock investment, held for 7 months	2,000
Amount lost in football office betting pool	500
Age	40

Emily has no gambling winnings this year.

Click here to access the standard deduction table to use.

Indicate whether the following items are taxable or nontaxable to Emily.

Salary
Gift from parents
Alimony payments received
Capital gain from stock investment, held for 7 months
Interest income from bonds issued by Xerox

Identify whether the items are deductible (fully or partially) by Emily.

Amount lost in football office betting pool
Contribution to a traditional IRA

Emily's taxable income in 2018 is $.