For calendar year 2015, Jon and Betty Hansen (ages 59 and 60) file a joint return reflecting AGI of $280000. They incur the following expenditures:<\/p>
Medical expenses before AGI floor $30,000<\/p>
Casualty Loss(not covered by insurance) before statutory floors 30,000<\/p>
Interest in home mortgage 10,000<\/p>
Interest in credit cards 800<\/p>
Property Taxes on home 13,000<\/p>
Charitable contributions 17,000<\/p>
State Income Tax 15,000<\/p>
Tax Return Preparation fees 1,200<\/p>
What is the amount of itemized deductions the Hansen's may claim?<\/p>", "transcribed_text": "", "related_book": { "title": "Income Tax Fundamentals 2013", "isbn": "1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516", "edition": "31st Edition", "authors": "Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill", "cover_image": "https:\/\/dsd5zvtm8ll6.cloudfront.net\/si.question.images\/book_images\/1124.jpg", "uri": "\/textbooks\/income-tax-fundamentals-2013-31st-edition-9781285586618", "see_more_uri": "" }, "free_related_book": { "isbn": "B09Y4C4DJB", "uri": "\/textbooks\/journey-to-pharmacy-residency-stand-out-from-the-crowd-interview-tips-and-survival-guide-for-achieving-your-goal-1st-edition-979-8780140023-262578", "name": "Journey To Pharmacy Residency Stand Out From The Crowd Interview Tips And Survival Guide For Achieving Your Goal", "edition": "1st Edition" }, "question_posted": "2024-06-28 04:35:33", "see_more_questions_link": "\/study-help\/questions\/business-finance-2024-September-13", "step_by_step_answer": "The Answer is in the image, click to view ...", "students_also_viewed": [ { "url": "\/describe-managements-incentive-to-misstate-financial-statements-what-challenge-do", "description": "Describe managements incentive to misstate financial statements. 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