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Gabriela Solice is single and for the year 2020 she had gross income of $70,000 Her expenses for the year are the following: State income
Gabriela Solice is single and for the year 2020 she had gross income of $70,000 Her expenses for the year are the following:
State income tax and personal sales taxes paid | $2,800 |
Personal property tax per car in her state | $200 |
Qualified medical expenses and premiums | $9,200 |
Charitable contributions | $400 |
Townhouse mortgage interest (15 year mortgage) | $8,000 |
Investment interest (investment income: $200) | $300 |
Interest on student loan for accounting course tuition | $100 |
What is Gabriela's maximum itemized deduction?
*Please show your work and explain each step. I cannot give positive rating if you don't explain each step.
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