Question
Abby is single and age 25. She has AGI of $110,000 and incurs the following expenditures in 2022: Medical expenses: $9,000 Interest on home mortgage
Abby is single and age 25. She has AGI of $110,000 and incurs the following expenditures in 2022:
Medical expenses: $9,000
Interest on home mortgage (mortgage was $300,000): $11,000
State income tax: $8,000
State sales tax: $7,500
Real estate tax: $9,500
Charitable contributions: $1,000
What is the amount of itemized deductions Abby may claim?
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South Western Federal Taxation 2017 Comprehensive
Authors: William H. Hoffman, David M. Maloney, William A. Raabe, James C. Young
40th Edition
1305874161, 978-1305874169
