6. Gregory and Lulu paid (and can substantiate) the following amounts during the year: Mastercard interest $1,480

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6. Gregory and Lulu paid (and can substantiate) the following amounts during the year:

Mastercard interest $1,480 Dental expenses 2,600 California state income tax (for 2008) 450 Charitable contributions 1,875 Mortgage interest on home purchase

(personal portion)

6,400 Real estate taxes (personal portion) 820 Life insurance premiums 845 Investment interest 4,300 Automobile registration fees

(deductible portion)

450 Tax return preparation fee 475 Contributions to George Clinton’s reelection campaign 1,000 None of the investment interest is related to amounts borrowed to purchase the City of Atlanta tax-exempt bonds.

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Income Tax Fundamentals 2011

ISBN: 9780538469197

29th Edition

Authors: Gerald E. Whittenburg, Martha Altus-Buller

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