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CHECK POINT I A single women earned wages of $87,200, received $2680 in interest from a savings account, and contributed $3200 to a tax-deferred savings plan. She is entitled to a personal exemption of $3800 and a standard deduction of $5950. The interest on her home mortgage was $11,700, she paid $4300 in property taxes and $5220 in state taxes, and she contributed $15,000 to charity.
a. Determine the Women’s gross income.
b. Determine the women’s adjusted gross income.
c. Determine the women’s taxable income.
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Thinking Mathematically (7th Edition)
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