1. How much of each expense is currently deductible by a cash basis taxpayer? (Enter a "O" if none of the amount is currently deductible.) A. Medical prescriptions costing $15 paid by credit card (medical expenses already exceed the 10% of AGI floor.) B. Prepaid interest (not related to points) of $300 on a residential loan. C. Taxpayer borrows $400 from the bank to make a charitable contribution. The $400 is paid to the charitable organization before the end of the tax year. D. Taxpayer gives a note to his church indicating an intent to contribute $700. E. A calendar-year individual mails a check for $500 to his church on December 31. The check is postmarked December 31 and clears the bank on January 4.