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Rosa purchased a residence this year. Rosa, age 32, is a single parent, and her 1-year- old daughter lives with her for the entire year.
Rosa purchased a residence this year. Rosa, age 32, is a single parent, and her 1-year- old daughter lives with her for the entire year. This year, Rosa received a salary of $158,000, received qualified dividends of $2,000, and made the following payments: Home mortgage interest ($500,000 acquisition debt) $15,000 Real estate taxes 1,525 State income taxes paid 1,340 Income tax preparation fee 2,250 Charitable contributions (cash to their church) 120 Rosa also made a number of trips to Las Vegas for gambling. This year Rosa won $12,000 in a poker tournament, and this amount was almost enough to offset her other gambling losses ($13,420). Rosa files as a head of household. What is her taxable income for 2020? (Blank 1) What is her tax due or refund assuming she had federal tax of $20,000 withheld in 2020? She is eligible for a $2,000 child tax credit for her daughter. (Blank 2) Blank # 1 Blank #2
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