discussion

Discussion) Taxable Income

Daze works as a sales representative and travels extensively for his employer's business. This year Daze was paid $98,000 in salary and made the following expenditures:

Federal income taxes withheld

10,000

State income taxes withheld

2,000

Medical expenses

1,000

Employee business expenses (unreimbursed portion)

1,000

Charitable contributions

500

Investment counseling fees

800

Will preparation fee

500

Daze also made a number of trips to Connecticut for gambling. This year Daze won $2,000 after spending $14,500. Calculate Daze's Taxable Income if he files jointly with his spouse with no income.