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The following information applies to Emily for 2019. Her filing status is single. Salary Interest income from bonds issued by Xerox Alimony payments received
The following information applies to Emily for 2019. Her filing status is single. Salary Interest income from bonds issued by Xerox Alimony payments received (divorce finalized in 2014) Contribution to traditional IRA $85,000 1,100 6,000 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 (gambling loss) 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 Taxable Not taxable Alimony payments received Taxable Capital gain from stock investment, held for 7 months Taxable Interest income from bonds issued by Xerox Taxable 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 2019 is $ Not deductible Deductible
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