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Shauna Coleman is single. She is employed as an architectural designer for Streamline Design (SD). Shauna wanted to determine her taxable Income for this year.

image text in transcribed Shauna Coleman is single. She is employed as an architectural designer for Streamline Design (SD). Shauna wanted to determine her taxable Income for this year. She correctly calculated her AGI. However, she wasn't sure how to compute the rest of her taxable Income. She provided the following Information with hopes that you could use It to determine her taxable income for 2023. a. Shauna pald $4,728 for medical expenses for care from a broken ankle in October. Also, Shauna's boyfrlend, Blake, drove Shauna (In her car) a total of 115 mlles to the doctor's office so she could recelve care for her broken ankle. b. Shauna pald a total of $3,520 In health Insurance premlums during the year (not through an exchange). SD did not relmburse any of this expense. Besides the health Insurance premlums and the medical expenses for her broken ankle, Shauna had Laslk eye surgery last year and pald $3,120 for the surgery (she recelved no Insurance relmbursement). She also incurred $498 of other medical expenses for the year. c. SD withheld $1,920 of state Income tax, $7,615 of Soclal Securlty tax, and $14,980 of federal Income tax from Shauna's paychecks throughout the year. d. In 2023 , Shauna was due a refund of $298 for overpaylng her 2022 state taxes. On her 2022 state tax return that she filed in Aprll 2023, she applied the overpayment toward her 2023 state tax llabillty. She estimated that her state tax llability for 2023 will be $2,420. e. Shauna pald $3,320 of property taxes on her personal residence. She also pald $548 to the developer of her subdivision because he had to replace the sidewalk in certain areas of the subdivision. f. Shauna pald a $248 property tax based on the state's estlmate of the value of her car. g. Shauna has a home mortgage loan In the amount of $244,000 that she secured when she purchased her home. The home is worth about $424,000. Shauna pald interest of $12,780 on the loan this year. h. Shauna made several charltable contributions throughout the year. She contributed stock In ZYX Corporation to the Red Cross. On the date of the contribution, the falr market value of the donated shares was $1,480 and her basis in the shares was $592. Shauna originally bought the ZYX Corporation stock In 2009 . Shauna also contributed $348 cash to State Unlversity and religlous artffacts she has held for several years to her church. The artffacts were valued at $548 and Shauna's basis in the ltems was $348. Shauna had every reason to belleve the church would keep them on display Indefinitely. Shauna also drove 200 miles doing church-related errands for her minister. Finally, Shauna contributed $1,320 of services to her church last year. I. Shauna pald \$298 in Investment advisory fees and another $198 to have her tax return prepared (that Is, she pald \$198 In 2023 to have her 2022 tax return prepared). J. Shauna Is Involved in horse racing as a hobby. During the year, she won $2,620 in prize money and Incurred $14,800 in expenses. She has never had a profitable year with her horse-racing actlvitles, so she acknowledges that this is a hobby for federal Income tax purposes. k. Shauna sustalned \$2,120 In gambling losses over the year (mostly horse-racing bets) and had only \$248 In winnings. b. Assume Shauna's AGI is $231,000. Determine Shauna's taxable Income

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