Question
David, a calendar year married taxpayer, files a joint return for 2017. Information for the year includes the following: AGI (including wagering gains) $371,800 State
David, a calendar year married taxpayer, files a joint return for 2017. Information for the year includes the following:
AGI (including wagering gains) $371,800
State income taxes 15,000
Charitable contributions 16,000
Wagering losses (wagering gains were $22,000) 20,000
David's allowable itemized deductions for the year are:
| a. | $51,000 | |
| b. | $29,260 | |
| c. | $49,260 | |
| d. | $31,000 | |
| e. | None of the above. |
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Income Tax Fundamentals 2013
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
31st Edition
1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516
