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Bill, a single taxpayer, has adjusted gross income for the current year of $80,000. Bill pays the following amounts during the current year: Mortgage interest
Bill, a single taxpayer, has adjusted gross income for the current year of $80,000. Bill pays the following amounts during the current year:
Mortgage interest on residence | $5,500 |
Interest on car loan | 500 |
Credit card interest | 600 |
Property taxes on residence | 2,500 |
State income tax withheld from wages | 3,400 |
Federal income tax withheld from wages | 9,500 |
FICA taxes withheld from wages | 6,120 |
Cash contributions to the Salvation Army | 800 |
Donation of clothes to Goodwill (Value = $400; Cost =$1,500) |
What is the amount of Bill's total itemized deductions?
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