Question
Don and Brenda Gilmore are both under age 65 and file a joint return. Their AGI is $275,300. Their itemized deductions are as follows: Medical
Don and Brenda Gilmore are both under age 65 and file a joint return. Their AGI is $275,300. Their itemized deductions are as follows:
Medical and dental expenses $16,850 Real estate and state withholding taxes $19,560 Home mortgage interest (Mont balance $250,000) $25,400 Deductible investment interest expense $3845 Charitable contributions (with receipts) $27,520
Based on the information listed above, what is the itemized deduction amount for the Gilmore's?
a) $83,615 b) $76,325 c) $62,290 d) $66,765
(Once again, 2018 tax year please illustrate how you arrived at your answer).
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