Answer the following questions: (show details)

Meg pays $1,900 in student loan interest. Her AGI is $72,000. What is her For AGI student loan deduction?

1,900

1,013

887

0

What is the maximum amount of debt related to home acquisition you can take interest deductions for in 2018?

0, interest on acquisition is undeductible

1,000,000

Unlimited, there is no ceiling

750,000

100,000

In 2018, you had the following tax items: $5,000 state income taxes paid, $4,500 state sales taxes paid, $4,700 in property taxes, $500 in ad valorem taxes on your car. How much should you claim on your- itemized deductions for state and local taxes?

$10,200

$10,000

$14,700

$9,200

$9,700

I donate my old furniture t a Goodwill, a public charity. I paid around $25,000 for my furniture in 2006. I feel its worth around $16,000 today as its not too badly scuffed up. How much of a charitable deduction can I take if I remember to get a receipt form the charity? Assume my AGI is $30,000.

$1,000

$15,000

$16,000

$0

$9,000

$25,000