Mike, Single, Age 31, Reports the Following Items for 2019

Essay

Mike, single, age 31, reports the following items for 2019: $\begin{array}{lr}\text { Salary } & \$ 50,000 \\\text { Nonbusiness bad debt } & (6,000)\\\text { Casualty }\\ \text { Asset A (personal use property held for two years) —gain } & 3,000 \\\text { Dividends } & 2,000 \\\text { Interest expense on personal residence } & 10,000\end{array}$

$\text { Compute Mike's taxable income for } 2019 .$