0 Required Information 2 of 3 The following information applies to the questions

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0 Required Information 2 of 3 The following information applies to the questions displayed below] Camille Sikorski was divorced last year. She currently provides a home for her 15-year-old daughter Kaly Kaly lIived in Camille's home for the entire year, and Camille paid for all the costs of maintalning the home. She recewed a salary of $105.000 and contributed $6,000 of It to a qualified retirement account (a for AGI deduction) She also recenved $10.000 of alimony from her former husband. Finally, Camile paid $15,000 of expenditures that qualified as itemized deductions 023857 b. What would Camille's taxable income be if she incurred $24.000 of ltemized deductions Instead of S15.000? (1) Gross income (2) For AGI deductions (a) Adusted gross income (4) Standard ceduesion (5)mized deductions Print

Explanation / Answer

Computation of Camille’s taxable income for year 2018 be if she incurred $24000 of itemized deductions instead of $15000: Gross Income $1,05,000 Less: Contributed to AGI -$6,000 Add: Alimony received $10,000 Adjusted Gross Income $1,09,000 Less: Standardized Deductions= - Less: Itemized Deductions -$24,000 Taxable Income $85,000 Note: Greater of standard or itemized deduction are taken, here standard is $18000 and itemized amount is $24000.

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