Question

Lcui had the following transaction this year. she received 100,000 from life insurance and proceeds from the death of her great aunt. she received 20,000 in workmans compensation and 30,000 from unemployment benefits. she also receivrd 15,000 of reimbursements for medical expenses she paid from her health insurance that was providied by her employer. she received 5000 of alimony pyments. she has been divorcrd since 2015. and won a free shopping spree at albertsons valued at 350. how much taxable i come did Luci have in 2019?

Answer 1

Particulars	Amount	Amount
Gross income:
Unemployment benefits	$          30,000
Compensation	$                   -
Alimony	$            5,000
Winnings	$                350
Gross income		$          35,350
For AGI deductions		$                   -
Adjusted gross income		$          35,350
Less:
Standard deduction	$          12,200
Itemized deduction	$                   -
Higher of the two		$          12,200
Taxable income		$          23,150

Answer is:

23,150

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