Question

Andi Fauci, age-79, is single, and has taxable income, properly calculated, of $226,000. During the year,...

Andi Fauci, age-79, is single, and has taxable income, properly calculated, of $226,000. During the year, Andi completed transactions, including:

Qualified dividends 555

Loss on sale of Tandem Diabetic stock (held from

11/10/2017 to 10/31/2019, Cost = $7,400) -3,100

SALE OF RENTAL RESIDENCE

Sales price (November 27, 2019)

Building $48,000

Land 72,000

Cost (October 18, 2010)

Land 38,000

Building 30,000

Depreciation allowed 8,998

SALE OF APPLIANCES WITH RESIDENCE

Sales price $ 5,500

Cost (October 18, 2014) 9,000

Depreciation allowed 6,880

Calculate Andi’s federal income tax for 2019.

Business Accounting

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