Question
Bruno is married filing separate and has one dependent. His AGI is $164,000 for 2018. He incurred the following expenses and losses during the year:
Bruno is married filing separate and has one dependent. His AGI is $164,000 for 2018. He incurred the following expenses and losses during the year: Medical expenses before the 7.5%-of-AGI limitation $9,900 State and local income taxes 5,600 State sales tax 1,800 Real estate taxes 6,100 Home mortgage interest 7,000 Credit card interest 2,350 Charitable contribution 3,200 Casualty loss before 10% limitation (after $100 floor; not in a Federally declared disaster area) 19,000 Unreimbursed employee expenses subject to the 2%-of-AGI limitation 3,300 Round intermediate computations to nearest dollar. Calculate Bruno's allowable itemized deductions for the year. $ .
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started