Tax Liability:
Julie 26 years old with one 4 year old child she adopted two years ago. She is not married. ( she was a child actress, and has some investments.) She was divorced last year and receives $862 Monthly child support from ex husband (child lives with her) She claims child as a dependent.
$51,720 Her salary as nanny for a local lawyer. Her child comes with her when she is working.
$56,720 Inheritence she received when Aunt July died
$131 Bond interest on City of Atlanta Bonds She bought some series EE bonds this year…They mature in 10 years She will use funds for retirement savings.
$431 Interest accrued this year
$1,724 Interest received when 2 year CD matured this year
$775.8 Interest earned last year
$948.2 Interest earned on CD this year
$28,360 Principal received on CD at maturity
$2,586 Price she paid for stock she bought in 2014
$3,879 Amount she received on sale of the stock
$1,293 Price she paid for Atlanta bonds she bought in November 2015
$1,810.2 Amount she received on sale of the bonds in September 2016
$10,344 Price she paid for some land she bought in 2013
$7,758 Amount she received on sale of the land in 2016
Question: Compute Julie's tax liability for 2016.