Misti purchased a residence this year. Misti, age 32, is a single parent and lives...
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Accounting
Misti purchased a residence this year. Misti, age 32, is a single parent and lives with her 1-year-old daughter. This year, Misti received a salary of $160,000 and made the following payments: State Sales Tax $200 Home mortgage interest ($500,000 acquisition debt) $15,000 Real estate taxes 1,525 State income taxes paid 2,000 Income tax preparation fee 2,250 Charitable contributions (cash to their church) 120 Misti files as a head of household.
Calculate her taxable income this year.
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