Paul reported the following itemized deductions on his 2019 tax return. His AGI for 2019was $65,000. The
Question:
Paul reported the following itemized deductions on his 2019 tax return. His AGI for 2019was $65,000. The mortgage interest is all qualified mortgage interest to purchase his personal residence. For AMT, compute his total adjustment for itemized deductions.
Medical expenses (after the10% of AGI floor)....................$6,000
State income taxes...................................................................3,600
Home mortgage interest.......................................................11,500
Charitable contributions..........................................................3,200
a. $ 0.
b. $ 3,600.
c. $ 9,600.
d. $24,300.
Step by Step Answer:
Fundamentals Of Taxation 2020 Edition
ISBN: 9781260483147
13th Edition
Authors: Ana Cruz, Michael Deschamps, Frederick Niswander, Debra Prendergast, Dan Schisler