a-1. Assume Shauna's AGI is $132,000. Determine Shauna's taxable income.Note: Round your intermediate calculations to the nearest whole dollar amount. Required Information[The following information applies to the questions displayed below.]Shauna Coleman is single. She is employed as an architectural designer for Streamline Design (SD). Shoune wanted todetermine her taxable income for this year (2022). She correctly calculated her AGI. However, she wasn't sure how tocompute the rest of her taxable income. She provided the following information with hopes that you could use it todetermine her taxable income.a. Shauna paid $4,730 for medical expenses for care related to a broken ankle in October. Also, Shauna's boyfriend,Blake, drove Shauna (in her car) a total of 115 miles to the doctor's office so she could receive care for her broken ankle.b. Shauna paid a total of $3,525 in health insurance premiums during the year (not through an exchange). SD did notreimburse any of this expense. Besides the health insurance premiums and the medical expenses for her broken ankle,Shouna hod Lasik eye surgery last year and paid $3,125 for the surgery (she received no insurance reimbursement).She also incurred $500 of other medical expenses for the year.c. SD withheld $1,925 of state income tax, $7,620 of Social Security tax, and $15,000 of federal income tax from Shauna'spaychecks throughout the year.d. In 2022, Shauna was due a refund of $300 for overpaying her 2021 state taxes. On her 2021 state tax return that shefiled in April 2022, she applied the overpayment toward her 2022 state tax liability. She estimated that her state taxliability for 2022 will be $2,425.e. Shauna paid $3,325 of property taxes on her personal residence. She also paid $550 to the developer of hersubdivision because he had to replace the sidewalk in certain areas of the subdivision.f. Shauna paid a $250 property tax based on the state's estimate of the value of her car.g. Shauna has a home mortgage loan in the amount of $245,000 that she secured when she purchased her home. Thehome is worth about $425,000. Shauns paid interest of $12,800 on the loan this year.h. Shauna made several charitable contributions throughout the year. She contributed stock in ZYX Corporation to theRed Cross. On the date of the contribution, the fair market value of the donated shares was $1,500 and her basis in theshares was $600. Shauna originally bought the ZYX Corporation stock in 2009. Shauna also contributed $350 cash toState University and religious artifacts she has held for several years to her church. The artifacts were valued at $550and Shauna's basis in the items was $350. Shauna had every reason to believe the church would keep them on displayindefinitely. Shouna also drove 200 miles doing church-related errands for her minister. Finally, Shauna contributed$1,325 of services to her church last year.1. Shauna paid $300 in investment advisory fees and another $200 to have her tax return prepared (that is, she paid$200 in 2022 to have her 2021 tax return prepared).J. Shauna is involved in horse racing as a hobby. During the year, she won $2,625 in prize money and incurred $15,000 inexpenses. She has never had a profitable year with her horse-racing activities, so she acknowledges that this is ahobby for federal income tax purposes.k. Shauna sustained $2,125 in gambling losses over the year (mostly horse-racing bets) and had only $250 in winnings.a-1. Assume Shauna's AGI is $132,000. Determine Shauna's taxable income.Note: Round your Intermediate calculations to the nearest whole dollar amount.Taxable incomeS 95,972

Question

a-1. Assume Shauna's AGI is $132,000. Determine Shauna's taxable income.Note: Round your intermediate calculations to the nearest whole dollar amount. Required Information[The following information applies to the questions displayed below.]Shauna Coleman is single. She is employed as an architectural designer for Streamline Design (SD). Shoune wanted todetermine her taxable income for this year (2022). She correctly calculated her AGI. However, she wasn't sure how tocompute the rest of her taxable income. She provided the following information with hopes that you could use it todetermine her taxable income.a. Shauna paid $4,730 for medical expenses for care related to a broken ankle in October. Also, Shauna's boyfriend,Blake, drove Shauna (in her car) a total of 115 miles to the doctor's office so she could receive care for her broken ankle.b. Shauna paid a total of $3,525 in health insurance premiums during the year (not through an exchange). SD did notreimburse any of this expense. Besides the health insurance premiums and the medical expenses for her broken ankle,Shouna hod Lasik eye surgery last year and paid $3,125 for the surgery (she received no insurance reimbursement).She also incurred $500 of other medical expenses for the year.c. SD withheld $1,925 of state income tax, $7,620 of Social Security tax, and $15,000 of federal income tax from Shauna'spaychecks throughout the year.d. In 2022, Shauna was due a refund of $300 for overpaying her 2021 state taxes. On her 2021 state tax return that shefiled in April 2022, she applied the overpayment toward her 2022 state tax liability. She estimated that her state taxliability for 2022 will be $2,425.e. Shauna paid $3,325 of property taxes on her personal residence. She also paid $550 to the developer of hersubdivision because he had to replace the sidewalk in certain areas of the subdivision.f. Shauna paid a $250 property tax based on the state's estimate of the value of her car.g. Shauna has a home mortgage loan in the amount of $245,000 that she secured when she purchased her home. Thehome is worth about $425,000. Shauns paid interest of $12,800 on the loan this year.h. Shauna made several charitable contributions throughout the year. She contributed stock in ZYX Corporation to theRed Cross. On the date of the contribution, the fair market value of the donated shares was $1,500 and her basis in theshares was $600. Shauna originally bought the ZYX Corporation stock in 2009. Shauna also contributed $350 cash toState University and religious artifacts she has held for several years to her church. The artifacts were valued at $550and Shauna's basis in the items was $350. Shauna had every reason to believe the church would keep them on displayindefinitely. Shouna also drove 200 miles doing church-related errands for her minister. Finally, Shauna contributed$1,325 of services to her church last year.1. Shauna paid $300 in investment advisory fees and another $200 to have her tax return prepared (that is, she paid$200 in 2022 to have her 2021 tax return prepared).J. Shauna is involved in horse racing as a hobby. During the year, she won $2,625 in prize money and incurred $15,000 inexpenses. She has never had a profitable year with her horse-racing activities, so she acknowledges that this is ahobby for federal income tax purposes.k. Shauna sustained $2,125 in gambling losses over the year (mostly horse-racing bets) and had only $250 in winnings.a-1. Assume Shauna's AGI is $132,000. Determine Shauna's taxable income.Note: Round your Intermediate calculations to the nearest whole dollar amount.Taxable incomeS 95,972

Accepted Answer

Adjusted Gross Income:
Adjusted gross income is the amount on which the tax liability of the…