During 2015 kent a 40-year-old taxpayer reports the


During 2015, Kent, a 40-year-old taxpayer, reports the following items of income and expense:

Income:

Salary $150,000

Dividends from Alta Corporation $800

Interest income from a savings account $1,500

Rental income from a small apartment he owns $8,000

Expenses:

Medical $6,000

Interest on a principal residence $7,000

Real property taxes on the principal residence $4,300

Charitable contributions $4,000

Casualty loss- personal $6,100

Miscellaneous itemized deductions $1,200

Loss from the sale of Delta Corporation stock (held for two years) $2,000

Expenses incurred on the rental apartment:

Maintenance $500

Property taxes $1,000

Utilities $2,400

Depreciation $1,700

Insurance $800

Alimony payments to former wife $10,000

Assuming all of these items are deductible and that the amounts are before any limitations, what is Kent's taxable income for the year?

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Business Economics: During 2015 kent a 40-year-old taxpayer reports the
Reference No:- TGS01181075

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