In 2018, Ashley Earns a Salary of $55,000, Has Capital

question 94

Essay

In 2018, Ashley earns a salary of $55,000, has capital gains of $3,000, and receives interest income of $5,000. Her husband died in 2017. Ashley has a dependent son, Tyrone, who is age 8. Her itemized deductions are $9,000.
a. What is her filing status?
b. Calculate Ashley's taxable income for 2018.

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Definitions:

Neonate

A term referring to a newborn child, especially within the first 28 days after birth.

Reproductive Systems

A set of organs within an organism which work together for the purpose of reproduction.

Gamete Production

The process of forming gametes, which are reproductive cells (sperm in males and eggs in females) used in sexual reproduction.

Contractual Capacity

The legal ability of a party to enter into a binding contract, often related to age and mental competency.