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During 2021, Matt and Jane paid the following amounts: Federal income tax - $5,000 State income tax - $4,000 Real estate taxes on his home
During 2021, Matt and Jane paid the following amounts: Federal income tax - $5,000 State income tax - $4,000 Real estate taxes on his home - $3,800 State sales taxes - $600 State license fee - $400. What amount can they deduct as state and local taxes by itemizing deductions, assuming they file as MFJ? Jeremy is single and his income is all from his salary as an employee. He had adjusted gross income of $60,000 (Line 11) in 2021. He paid the following in 2021 Federal income tax withholding: $8,000 State income tax withholding: $2,000 Medical expenses: $4,000 Real estate taxes: $5,000 Interest on the mortgage used for his home purchase: $4,000 Assume he uses the best filing status for his situation. What is his taxable income (Line 15) for 2021, assuming he is trying to legally minimize his federal income tax
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