For calendar year 2013, Stuart and Pamela Gibson file a joint return reflecting AGI of $350,000. Their

Question:

For calendar year 2013, Stuart and Pamela Gibson file a joint return reflecting AGI of $350,000. Their itemized deductions are as follows:
Casualty loss after $100 floor (not covered by insurance)...........$48,600
Home mortgage interest...................................................19,000
Credit card interest............................................................800
Property taxes on home...................................................16,300
Charitable contributions...................................................28,700
State income tax............................................................18,000
Tax return preparation fees................................................1,200
Calculate the amount of itemized deductions the Gibsons may claim for the year.