Misti Purchased a Residence This Year $\ \text{Home mortgage interest}\quad\quad\quad\quad\quad\quad\quad\quad\quad\quad\quad\quad\quad\quad\$ 2,335$

Misti purchased a residence this year. Misti is a single parent and lives with her 1-year old daughter. This year, Misti received a salary of $63,000 and made the following payments: $\ \text{Home mortgage interest}\quad\quad\quad\quad\quad\quad\quad\quad\quad\quad\quad\quad\quad\quad\$ 2,335$
$\ \text{Real estate taxes}\quad\quad\quad\quad\quad\quad\quad\quad\quad\quad\quad\quad\quad\quad\quad\quad\quad\quad1,525$
$\ \text{State income taxes paid}\quad\quad\quad\quad\quad\quad\quad\quad\quad\quad\quad\quad\quad\quad\quad1,340$
$\ \text{Income tax preparation fee}\quad\quad\quad\quad\quad\quad\quad\quad\quad\quad\quad\quad\quad\quad\quad250$
$\ \text{Charitable contributions (cash to their church)}\quad\quad\quad\quad\quad\quad120$

Misti files as a head of household and claims two exemptions. Calculate her taxable income this year.

Correct Answer:

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$46,000 = ...

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