Reference no: EM133089445
Question - Calculate Taxable Income for Primrose Palmer. Primrose takes the Standard Deduction. Primrose is single:
Salary $200,000
Interest on City of Tampa bond $20,000
Treasury bond interest $20,000
Primrose received $20,000 in a legal settlement for a business issue
Primrose received a $100,000 gift from her mom Rose
Primrose's sister, Tulip, repaid a $40,000 loan from 2013
Workman's compensation $20,000
Alimony received $10,000. The divorce was finalized in 2016
Contribution to Health savings account $2,000
Educator expenses $400
Primrose won $20,000 in a bowling contest
Primrose found a ring worth $10,000 on the ski slope
Sole proprietorship income $100,000
Self employment tax $6,000
Primrose received $200,000 from the estate of her great grandmother, Violet
Dividends $20,000