Question

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Required information (The following information applies to the questions displayed below) Camille Sikorski was divorced in 2017. She currently provides a home for her 15-year-old daughter Kaly. Kaly lived in Camille's home for the entire year, and Camille paid for all the costs of maintaining the hor. of $105,000 and contributed $6,300 of it to a qualified retirement account (a for AGI deduction). She also received $16,000 of alimony from her former husband (per divorce decree issued in 2017). Finally, Camille paid $17,300 of expenditures that qualified as itemized deductions. (Use the tax rate schedules and 2019 rules.) a. What is Comille's taxable income? Description (1) Gross income (2) For AGI deductions (3) Adjusted gross income (4) Standard deduction (5) Itemized deductions Amount $ 121,000 6,300 114,700 (6)

Answer 1

Gross Income Alg deductions $12,000 $6300 $114700 C'$18350) OR $12300 Adrusted gross income Standard deduction or Slemised : deduchon - Taxable income $96350 10 Alimony secreued is faxable foe. the divorce agreement entered unto 2018 bec 31. 2 Either a standaid deduchon or elemused deduction is allowed AS Camille qualities as head of household so standard deduction for 2019 is $18350 Higher of which is taken by Camille ce Change of facts Gooss Income $121000 AGg deduction $6300 Adjusted grees Income Standasel dear of $114700 Stenused deon $17300) Taxable income $97460

Page No. Date As Kaly is 25yrs old & full time student & ager limit provided for qualifying child is 24 ups. Hence Camille do not qualifies as head of household & need to file the return as single taxpayer Hence itemised ded" will be claimed as standard dedh ($12200) is low from itemised ded"