in 2018. She currently provides a home for her 15-year-old daughter Kaly. Kaly lived in Camille's home for the entire year, and Camille paid for all the costs of maintaining the home. Camille received a salary of $95,000 and contributed $5,800 of it to a qualified retirement account (a for AGI deduction). She also received $14,000 of alimony from her former husband (per divorce decree issued in 2018). Finally, Camille paid $16,900 of exp
Camille Sikorski was divorced in 2018. She currently provides a home for her 15-year-old daughter Kaly. Kaly lived in Camille's home for the entire year, and Camille paid for all the costs of maintaining the home. Camille received a salary of $95,000 and contributed $5,800 of it to a qualified retirement account (a for AGI deduction). She also received $14,000 of alimony from her former husband (per divorce decree issued in 2018). Finally, Camille paid $16,900 of expenditures that qualified as itemized deductions, including a $1,000 donation to United Way (a public charity). Assume the nonitemizer charitable contribution deduction is extended to 2022. (Use the tax rate schedules and 2022 rules.)
Taxable income refers to the concept of determining the desired sum of tax an entity needs to pay to the government on the basis of total income gained by them.
Step by step
Solved in 2 steps
