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Misti Purchased a Residence This Year $2,335\quad\quad\quad\quad\quad\quad\quad\$ 2,335 Real Estate Taxes 1,525\quad\quad\quad\quad\quad\quad\quad\quad\quad\quad1,525

Question 106

Essay

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\quad\quad\quad\quad\quad\quad\quad\$ 2,335
Real estate taxes 1,525\quad\quad\quad\quad\quad\quad\quad\quad\quad\quad1,525
State income taxes paid 1,340\quad\quad\quad\quad\quad\quad\quad\quad1,340
Income tax preparation fee 250\quad\quad\quad\quad\quad\quad\quad250
Charitable contributions (cash to their church) 120\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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