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For calendar year 2023, Jon and Betty Hansen (ages 63 and 64) have a gross income of $260,000 not including their Social Security benefits of
For calendar year 2023, Jon and Betty Hansen (ages 63 and 64) have a gross income of \$260,000 not including their Social Security benefits of $23,529. Jon and Betty also incur the following expenditures: Medical expenses before "floor" Interest on home mortgage (acquisition debt) of $300,000 Interest on home equity loan used to improve the home Interest on credit cards Property taxes on home Charitable contributions State income tax $ 30,000 10,000 3,000 800 13,000 17,000 15,000 a . What is John and Betty's AGI for 2023? b . What is the amount of itemized deductions the. Hansens may claim?
For calendar year 2023, Jon and Betty Hansen (ages 63 and 64) have a gross income of $260,000 not including their Social Security benefits of $23,529. Jon and Betty also incur the following expenditures: a. What is John and Betty's AGI for 2023? b. What is the amount of itemized deductions the.Hansens may claim Step by Step Solution
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