Bob and Jane Smith are married and have two dependent children, Cindy, age $16,$ and Bobby, age $14.$ For $2023,$

their adjusted gross income $($AGI$)$ is $$192,000.$ They had deductions consisting of:

Doctor and dentist visits $5,700$

Prescription medicine $2,800$

Nonprescription medicines $300$

Eyeglasses $2,100$

Surgery for Bobby $6,600$

Miles driven for medical purposes $400$ miles

Whole$-$house air purifier $($Cindy suffers from allergies and her physician

recommended that the Smiths install an air purifier in their home.

cost of system $3,500$

increase in value of residence $1,000$

increase in utilities $250$

State income taxes withheld from wages $9,900$

Estimated state income tax payments

$4/15/2023600$

$6/15/2023600$

$9/15/2023600$

$1/15/2024600$

Personal property taxes on autos $800$

Real estate taxes on personal residence $5,100$

Interest on qualified residence $9,200$

Interest on loan used to buy tax$-$exempt municipal bonds $1,400$

Cash charitable contributions $($with appropriate substantiation$)6,300$

Miles driven for charitable purposes $300$ miles

Household goods $($all in good or better condition$)$ donated to Goodwill

cost of the goods $4,100$

fair market value of the goods $700$

Cash given to homeless $($or street$)$ people so they can buy food $300$

The table above can be copied and pasted into Excel to provide a starting place.

Note: In your worksheet, show both total deductible taxes before any limitation and then total deductible taxes

after limitation$.$ Summarize your answer in a table similar to the following:

Before Limitation After Limitation

Medical

Taxes

Interest No limitation

Charitable No limitation

Total Itemized Deductions No total needed here

Don't calculate everything in the summary table. Layout calculations near to the relevant data and then cell

reference to your calculations to complete a summary table. Additionally, I should also be able to follow what

you are doing without reviewing every formula