During the Current Year, Donna, a Single Taxpayer, Reports the Following

question 98

Essay

During the current year, Donna, a single taxpayer, reports the following items income of income and expenses:
Income:
$\begin{array}{ll}\text { Salary } & \$ 86,000 \\\text { Municipal bond interest } & 1,300 \\\text { Bank account interest } & 2,300 \\\text { Alimony received } & 24,000 \\\text { Capital gain on an asset held less than one year } & 3,000 \\\text { Rental income from residential rental house } & 12,500\end{array}$ Expenses/losses:
$\begin{array}{ll}\text {Interest on principal residence}&8,000\\\text {Real estate taxes on principal residence}&1,000\\\text {Capital loss on an asset held less than one year}&7,000\\\text { Expenses related to rental property }\\\text { Mortgage interest } & 6,000 \\\text { Repairs } & 2,400 \\\text { Taxes } & 700 \\\text { Depreciation } & 1,200\end{array}$
Compute Donna's taxable income. (Show all calculations in good form.)

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Definitions:

Ecdysozoa

A group of protostome animals, including arthropods and nematodes, characterized by periodic shedding of their exoskeletons during growth.

Lophotrochozoa

A major group within the animal kingdom, which includes organisms that have either a lophophore for feeding or a trochophore larval stage in their development.

Deuterostomes

Animals characterized by the development of the anus from the first opening in the embryo, with humans and starfish as examples.

Metazoan

A multicellular organism of the kingdom Animalia, characterized by complex structures and systems that perform specific functions.