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Compute the taxable

Compute the taxable

Compute the taxable income for 2012 for Andrea on the basis of the following information. Her filing status is single.

Salary 90000
Interest income from bonds issued by IBM 3000
Alimony payments received 3600
Contribution to traditional IRA 5000
Gift from grandparents 30000
Capital gain from stock investment, held for 7 months 30000
Amount lost in football office pool (sports gambling is illegal where Â
Andrea lives) 1500
Number of potential dependents (two cousins, who live in Canada) ?
Age 40
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