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Misti Purchased a Residence This Year

Question 56

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Misti purchased a residence this year. Misti, age 32, is a single parent and lives with her 1-year-old daughter. In 2020, Misti received a salary of $160,000 and made the following payments:
Misti purchased a residence this year. Misti, age 32, is a single parent and lives with her 1-year-old daughter. In 2020, Misti received a salary of $160,000 and made the following payments: Misti files as a head of household. Calculate her taxable income this year. Misti files as a head of household. Calculate her taxable income this year.

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$141,230 = $160,000 salary − $120 for AG...

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