Morgans taxable income and morgans tax liability

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Reference no: EM13866549

Morgan (age 45) is single and provides more than 50% of the support of Rosalyn (a family friend, age 36), Flo (a niece, age 18), and Jerold (a nephew, age 18). Both Rosalyn and Flo live with Morgan, but Jerold (a citizen of France) lives in Canada. Morgan earns a $95,000 salary, contributes $5,000 to a traditional IRA, and receives sales proceeds of $15,000 for an RV that cost $60,000 and was used only for vacations. She has $8,200 in itemized deductions.

Note: The personal exemption amount for 2015 is $4,000.

A. Morgan's taxable income is?

B. Morgan's Tax liability?

Reference no: EM13866549

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