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2019 Federal Tax Law Update Test for Circular 230 - Federal Tax Law Update Test for Circular 230 Professionals - Question 8 of 9. 8.

2019 Federal Tax Law Update Test for Circular 230 - Federal Tax Law Update Test for Circular 230 Professionals - Question 8 of 9.
8. Ed is single with no dependents. He has receipts for the expenses listed below that he paid in 2019. His AGI is $60,000. What are his total itemized deductions for 2019?
  • $8,000 in unreimbursed medical expenses
  • $5,400 in state and local income taxes
  • $6,000 in real estate taxes
  • $400 in ad valorem personal property taxes
  • $4,300 in mortgage interest
  • $1,800 in interest from a home equity loan used to pay credit card debt
  • $2,000 in charitable contributions
  • $600 in dues to professional organizations
  • $180 for a safe deposit box rental
  • $200 for subscriptions to professional journals
  • $225 in tax preparation fees
  • $1,000 in union dues
Note: Please use the updated 7.5% medical expense deduction floor to calculate this answer.

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