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What is her adjusted gross income

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Question - Tamara Moore is an unmarried, 37-year-old taxpayer. She will use the head of household filing status, and she has the following income for the year:

Wages: $36,500.

Bank interest: $375.

Municipal bond interest: $215.

Lottery prize: $500.

Gift from her father: $5,000.

Tamara contributed $1,500 to her traditional IRA, which she will deduct. What is her adjusted gross income?

1. $35,590

2. $35,875

3. $40,875

4. $41,090

Reference no: EM132750387

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