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20. Your adjusted gross income (AGI) is $48,000. You do not own a home but have charitable contributions of $1500 and $2000 interest on your
20. Your adjusted gross income (AGI) is $48,000. You do not own a home but have charitable contributions of $1500 and $2000 interest on your student loans that you have paid throughout the year. This year you also have medical expenses of $9,000, which must pass a AGI test of 7.5% in order to be deducted. You are allowed a standard deduction of $12,000, there is no personal exemptions this year. What is your taxable income?
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