complete on Form 1040 schedule A

71. Joc and Sharon Racca are married and have two children. Joc works as a sales manager for a national pharmaceutical company and Sharon is a nurse. They own a vacation home in New Hampshire that is used 30 percent for personal purposes. During the year they receive $800 in reimbursements from their medical plan and report $2,200 of investment income. They contributed stock with a fair market value of $4,000 that they acquired in 2010 at a cost of $1,700 to Stanton College. The Raccas' gambling winnings for the year were $1,000 and are included in their adjusted gross income. Their adjusted gross income for the year is $88,000 and they provide you with the following data: Automobile insurance $1,450 Homeowners' insurance 625 Life insurance 980 Disability insurance 375 Health insurance premiums 1,420 Country club dues 1,800 Health club dues 750 I Hospital 4,700 Doctor 1,275 Chiropractor 650 Chapter 8 Taxation of Individuals Dentists 3,750 Prescription drugs 275 Over-the-counter drugs 460 State taxes withheld 3,475 Property taxes (ad valorem) 320 Investment interest 1,600 Mortgage interest (primary residence) 6,850 Real estate taxes (primary residence) 2,240 Mortgage interest (vacation residence-unallocated) 3,000 Real estate taxes (vacation residence-unallocated) 1,350 Charitable contributions (cash) 8,435 Charitable contribution (clothes at FMV) 100 Gambling losses 650 Complete Form 1040 Schedule A. Joe's Social Security number is 063-79-4105 and Sharon's Social Security number is 530-22-6584. Forms and instructions can be downloaded from the IRS website (www.irs.gov)