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Question
The following information applies to Emily's 2018 taxable income. Her filing status is single.
Salary $85,000
Interest income from bonds issued by Xerox 1,100
Alimony payments received (divorce finalized in 2014) 6,000
Contribution to traditional IRA 5,500
Gift from parents 25,000
Capital gain from stock investment, held for 7 months 2,000
Amount lost in football office betting pool 500
Age 40
Emily has no gambling winnings this year.
Emily's taxable income in 2018 is how much?
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