Duke and Pat Collins have adjusted gross income of ($ 358,000). They have itemized deductions of ($
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Duke and Pat Collins have adjusted gross income of \(\$ 358,000\). They have itemized deductions of \(\$ 20,000\) consisting of \(\$ 8,000\) in medical expenses that exceed \(7.5 \%\) of adjusted gross income, \(\$ 3,000\) in property taxes, \(\$ 4,000\) in housing interest, and \(\$ 5,000\) in miscellaneous itemized deductions. What is the amount of their itemized deductions?
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Related Book For
CCH Federal Taxation 2019 Comprehensive Topics
ISBN: 9780808049081
2019 Edition
Authors: Ephraim P. Smith, Philip J. Harmelink, James R. Hasselback
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