Pedro, who is a single taxpayer, had AGI of $343,000 for 2017. He incurred the following expenses
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Pedro, who is a single taxpayer, had AGI of $343,000 for 2017. He incurred the following expenses during the year:
- Medical expenses before 10%-of-AGI limitation $20,900
- State and local income taxes $9,954
- Real estate taxes $1,991
- Home mortgage interest $16,590
- Charitable contributions $3,982
- Deductible investment interest expense $1,493
Compute the amount of Pedro's itemized deductions after any applicable reductions and/or limitations. Round your computations to the nearest dollar and use rounded amounts in subsequent calculations.
Related Book For
Concepts in Federal Taxation
ISBN: 9780324379556
19th Edition
Authors: Kevin E. Murphy, Mark Higgins, Tonya K. Flesher
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