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50. George is single and age 56, has AGI of $ 265,000, and incurs the following expenditures in 2020. Medical expenses Use the 2019
50. George is single and age 56, has AGI of $ 265,000, and incurs the following expenditures in 2020. Medical expenses Use the 2019 10% -of-AGI floor. $ 35,000 Interest on home mortgage 15,500 State income tax 7,500 State sales tax 4,500 Real estate tax 8,600 6,500 Charitable contribution What is the amount of itemized deductions George may claim?
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Intermediate Accounting
Authors: Donald Kieso, Jerry Weygandt, Terry Warfield, Nicola Young,
10th Canadian Edition, Volume 1
978-1118735329, 9781118726327, 1118735323, 1118726324, 978-0176509736
