About the tax liability

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Tax Liability:

Julie 26 years old with one 4 year old child she adopted two years ago. She is not married. ( she was a child actress, and has some investments.) She was divorced last year and receives $862 Monthly child support from ex husband (child lives with her) She claims child as a dependent.

$51,720 Her salary as nanny for a local lawyer. Her child comes with her when she is working.

$56,720 Inheritence she received when Aunt July died

$131 Bond interest on City of Atlanta Bonds She bought some series EE bonds this year…They mature in 10 years She will use funds for retirement savings.

$431 Interest accrued this year

$1,724 Interest received when 2 year CD matured this year

$775.8 Interest earned last year

$948.2 Interest earned on CD this year

$28,360 Principal received on CD at maturity

$2,586 Price she paid for stock she bought in 2014

$3,879 Amount she received on sale of the stock

$1,293 Price she paid for Atlanta bonds she bought in November 2015

$1,810.2 Amount she received on sale of the bonds in September 2016

$10,344 Price she paid for some land she bought in 2013

$7,758 Amount she received on sale of the land in 2016

Question: Compute Julie's tax liability for 2016.

Reference no: EM131286725

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