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Expense Categories Amount (USD) Mortgage Interest Expense $35,000 Charitable Contributions $30,000 Medical Expenses $18,000 State and Local Taxes $15,000 _____________________________ Total Deductions $98,000 Requirements: Analyze
Expense Categories Amount (USD) Mortgage Interest Expense $35,000 Charitable Contributions $30,000 Medical Expenses $18,000 State and Local Taxes $15,000 _____________________________ Total Deductions $98,000 Requirements:
- Analyze the potential deductions for an individual taxpayer, including mortgage interest expense, charitable contributions, medical expenses, and state and local taxes.
- Calculate the total deductions amount.
- Present all amounts in USD.
- Highlight the key expense categories.
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