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Misti Purchased a Residence This Year  Home mortgage interest$2,335\ \text{Home mortgage interest}\quad\quad\quad\quad\quad\quad\quad\quad\quad\quad\quad\quad\quad\quad\$ 2,335

Question 106

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Misti purchased a residence this year. Misti is a single parent and lives with her 1-year old daughter. This year, Misti received a salary of $63,000 and made the following payments:  Home mortgage interest$2,335\ \text{Home mortgage interest}\quad\quad\quad\quad\quad\quad\quad\quad\quad\quad\quad\quad\quad\quad\$ 2,335
 Real estate taxes1,525\ \text{Real estate taxes}\quad\quad\quad\quad\quad\quad\quad\quad\quad\quad\quad\quad\quad\quad\quad\quad\quad\quad1,525
 State income taxes paid1,340\ \text{State income taxes paid}\quad\quad\quad\quad\quad\quad\quad\quad\quad\quad\quad\quad\quad\quad\quad1,340
 Income tax preparation fee250\ \text{Income tax preparation fee}\quad\quad\quad\quad\quad\quad\quad\quad\quad\quad\quad\quad\quad\quad\quad250
 Charitable contributions (cash to their church)120\ \text{Charitable contributions (cash to their church)}\quad\quad\quad\quad\quad\quad120

Misti files as a head of household and claims two exemptions. Calculate her taxable income this year.

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$46,000 = ...

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