Can you please help me calculate her AGI and Total taxable income to fill out the page through taxable income and Schedule A please, thank you
Shauna is single and employed, and the following information is available.
Shauna has a wage salary of $ along with Pensions & Annuity Income taxable of
$
She has the following deductions:
Medical Expense
State Tax Expense $
Real Estate Tax $
Mortgage Interest Expense $
Charity donations cash $
Shauna is involved in horse racing as a hobby. During the year, she won $ in prize money
and incurred $ in expenses. She has never had a profitable year with her horseracing
activities, so she acknowledges that this is a hobby for federal income tax purposes.
Shauna sustained $ in gambling losses over the year mostly horseracing bets and had
only $ in winnings.
Calculate her total taxable income and AGI to complete Form page through taxable
income and Schedule A if applicable
