Question
For calendar year 2019, Steve and Peggy Rogers file a joint return reflecting AGI of $330,000. (This number has been correctly calculated, i.e., do not
For calendar year 2019, Steve and Peggy Rogers file a joint return reflecting AGI of $330,000. (This number has been correctly calculated, i.e., do not adjust this number). Both Steve and Peggy are employees of Stark Corporation. Their items of expense are listed below. Calculate Steve and Peggys itemized deductions. To receive credit, you must clearly document all calculations leading to your final answer. If any item below is not included in your calculation, please explain why and be specific.
Doctor, dentist and hospital expenses 11,800
Credit card interest 1,360
Job hunting costs (Steve obtained another position in the same business but didnt change jobs) 4,630
Prescription medications 1,900
Federal income taxes withheld in 2019 17,320
Home mortgage interest 13,710
Medical insurance premiums 21,350
Tax return filing fees 885
Medical insurance reimbursement received Nov. 2019 2,100
Addl medical insurance reimbursement expected Feb. 2020 3,910
Personal casualty loss (not covered by insurance) 35,050
Cost of alcohol rehabilitation for Peggy 6,835
Student loan interest 4,570
Professional dues (unreimbursed) 875
State income taxes withheld in 2019 12,400
State income taxes paid on April 14, 2019 for tax year 2018 3,240
Sales taxes paid 7,155
Real estate taxes paid 11,630
Fair market value of services provided to qualified charities 2,590
Cash charitable contributions 19,650
Alimony payment to Steves ex-wife 6,640
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