Odu Main view Connect httpsnewconnectmheducationcomflowconn

Odu | Main view Connect https://newconnect.mheducation.com/flow/connect.html 6 Saved Required information The following information applies to the questions displayed below) Camille Sikorski was divorced last year. She currently provides a home for her 15-year old daughter, K son. Parkes Both children lived in Camille\'s home, which she owns, for the entire year, and Camie pount (a son, Parker. Both children lived in C She received a salary of $65,000 and contributed $4,600 of it to a qualified retirement account (a for AGI deduction). She also received $8,000 of alimony from her former husband. F expenditures that qualified as itemized deductions a. What is Camile\'s taxable income? (2) For AGI deductions 3) Adusted gross income (4) Standard dedaction 5) Mevcred deductions 1 2or 3 Next >

Solution

Gross Income $ 73000 For AGI Deduction $ 4600 Adjusted Gross Income $ 68400 Standard Deduction $ 8500 Itemized Deduction $ 3100 Greater of standard or itemized $ 8500 Personal and dependency exemptions $ 11,100 Total Deductions $ 19,600 Taxable Income $ 48,800