Question:(Account) 12-59 Compute the taxable income for 2015 for Emily on the basis of the following information. Her filing status is single. Salary 85,000 Interest income from bonds issued by Xerox 1,100 Alimony payments received 6,000 Contribution to traditional IR 5,500 Gift from parents 25,000 Short-term capital gain from stock investment 2,000 Amount lost in football office pool 500 Number of potential dependents (two cousins, who live in ? Canada) Age 40 40
Question:(Account) 12-59 Compute the taxable income for 2015 for Emily on the basis of the following information. Her filing status is single. Salary 85,000 Interest income from bonds issued by Xerox 1,100 Alimony payments received 6,000 Contribution to traditional IR 5,500 Gift from parents 25,000 Short-term capital gain from stock investment 2,000 Amount lost in football office pool 500 Number of potential dependents (two cousins, who live in ? Canada) Age 40 40
Chapter3: Computing The Tax
Section: Chapter Questions
Problem 25P
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Transcribed Image Text:Question:(Account) 12-59
Compute the taxable income for 2015 for Emily on the
basis of the following information. Her filing status is
single.
Salary
85,000
Interest income from bonds issued by Xerox
1,100
Alimony payments received
6,000
Contribution to traditional IR
5,500
Gift from parents
25,000
Short-term capital gain from stock investment
2,000
Amount lost in football office pool
500
Number of potential dependents (two cousins, who live in
?
Canada)
Age
40
40
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