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Straightforward US tax accounting question.

P is an unmarried full-time investor with no depend cuts. Her income for the year 2016 is as follows:

Taxable interest income ................................................................. 525.900

Excludable municipal bond interest  .............................. 8,600

Qualifying dividends  ............................................... 11,650

Consulting fees  ....................................................... 6,400

Social Security benefits  ............................................. 8,400

Although P does not have sufficient deductions to itemize, her records reveal the following:

Investment expenses ........................................$850
Expenses related to consulting .........................1,200

In addition to the above. P recognized the following gains and losses during the year:

Loss on sale of 100 shares of A. Inc., held three years  5(1,200)
Loss on sale of personal automobile                              (1,800)
Sales price of 100 shares of 8 Corp. sold short             8,200
(This short sale was closed the following year with newly purchased shares costing $9,600. P owned no 8 Corp. stock at the time of the short sale.)
Gain on sale of unimproved land held as an investment for six years   45,000

Calculate P's adjusted gross income and taxable income.

Taxation, Accounting

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