Question
During 2022, Charlotte, a single, cash-method taxpayer, with no dependents, incurred the following expenditures: Qualified Medical Expenses $20,000 Qualified Residence Interest $10,000 Interest on credit
During 2022, Charlotte, a single, cash-method taxpayer, with no dependents, incurred the following expenditures:
Qualified Medical Expenses $20,000
Qualified Residence Interest $10,000
Interest on credit cards $ 4,000
Charitable Contributions to church $ 7,000
State Income Tax Paid $ 8,000
Real Estate Property Taxes $ 6,000
Charlottes income consisted of the following items:
Salary $155,000
Interest (savings account) $ 7,000
(1) What is Charlotte's AGI for 2022?
(2) What is Charlotte's Allowed Itemized Deductions for 2022?
(3) What is Charlotte's Taxable Income for 2022?
(4) What is Charlotte's Tax Liability for 2022?
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Maintenance Management Auditing In Search Of Miantenance Management Excellence
Authors: Anthony Kelly
1st Edition
0831132671, 978-0831132675
