Question
During the current year, Clint, single, had AGI of $180,00. He also paid for the following potentially deductible items: Bottled water $ 900 Hospital and
During the current year, Clint, single, had AGI of $180,00. He also paid for the following potentially deductible items:
Bottled water $ 900
Hospital and doctor bills $12,000
Prescription drugs $ 2,500
Over the counter allergy medicine $ 390
Health insurance premiums $ 4,600
Mortgage interest expense ($500,000 of acquisition debt) $15,500
Real estate taxes on principal residence $ 7,480
State income taxes $ 5,650
Sales tax $ 5,500
Cash contribution to his church $ 4,000
Used clothing (FMV $600, Cost $2,100) ?
Calculate Clint’s itemized deductions for 2021.
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Intermediate Accounting
Authors: Donald E. Kieso, Jerry J. Weygandt, And Terry D. Warfield
13th Edition
9780470374948, 470423684, 470374942, 978-0470423684
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