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Problem 10-44 (LO. 2, 3, 4, 5, 6, 7, 8) For calendar year 2016, Stuart and Pamela Gibson file a joint return reflecting AGI

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Problem 10-44 (LO. 2, 3, 4, 5, 6, 7, 8) For calendar year 2016, Stuart and Pamela Gibson file a joint return reflecting AGI of $350,000. Their itemized deductions are as follows. Note: All expenses are before any applicable limitations, unless otherwise noted. Casualty loss after $100 floor (not covered by insurance) Home mortgage interest Credit card interest Property taxes on home Charitable contributions State income tax Tax return preparation fees $48,600 19,000 800 16,300 28,700 18,000 1,200

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