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More Info 20, Jed, a single, cash method taxpayer had the following income items and expenditures: the icon to view the income items and expenditures.) the icon to view the standard deduction schedule.) Jed incurred the following expenditures: Qualified medical expenses requirements Investment interest expense ... Other investment activity expenses ment a. Compute Jed's taxable income for the year (assuming that he makes an election to have the net capita Qualified residence interest calculating the adjusted gross income (AGI). (If an input field is not used in the table, leave the input field emp Interest on loan on personal auto Charitable contributions 80.000 State income tax paid income 6,500 20,000 (15,000) State sales tax paid g-term capital gain -g-term capital loss Ed gross income (AGI) Property taxes Tax return preparation and consulting fee 91,500 Jed's income consisted of the following items Iculate the itemized deductions. (Complete all input fields. Enter a "0" for appropriate balances.) al expenses 9,500 712.50 7.5% of AGI s medical expenses 8787.50 Print De 20, Jed, a single, cash method taxpayer had the following income items a the icon to view the income items and expenditures.) the icon to view the standard deduction schedule.) equirements gross income (AGI) 91,500 ulate the itemized deductions. (Complete all input fields. Enter a "O" for app xpenses 9,500 7.5% of AGI 712.50 medical expenses 8787.50 ent interest 12000 ent income 7300 residence interest 12500 5000 paration and consulting fees mized deductions 45,587.50 Jed's taxable income for the year. iment income 1304 fied residence interest 12500 reparation and consulting fees 5000 itemized deductions 45,587.50 Dute Jed's taxable income for the year. usted gross income (AGI) 91500 us: Deductions from AGI: Itemized deductions (45,587.50) able income 45,912.50 quirement b. What is Jed's investment interest carryover (if any)? a's investment interest carryover is ed incurred the following expenditures: Qualified medical expenses $ 9,500 Investment interest expense 12,000 Other investment activity expenses 14,000 Qualified residence interest 12,500 Interest on loan on personal auto 2,300 Charitable contributions 3,000 State income tax paid 7,300 State sales tax paid 4,800 Property taxes 3,600 Tax return preparation and consulting fees 5,000 Jed's income consisted of the following items: Interest on loan on personal auto 2,300 Charitable contributions 3,000 State income tax paid State sales tax paid 7,300 4,800 Property taxes 3,600 Tax return preparation and consulting fees 5,000 Jed's income consisted of the following items: Salary $ 80,000 Interest income 6,500 Long-term capital gains 20,000 Long-term capital losses (15,000) More Info 20, Jed, a single, cash method taxpayer had the following income items and expenditures: the icon to view the income items and expenditures.) the icon to view the standard deduction schedule.) Jed incurred the following expenditures: Qualified medical expenses requirements Investment interest expense ... Other investment activity expenses ment a. Compute Jed's taxable income for the year (assuming that he makes an election to have the net capita Qualified residence interest calculating the adjusted gross income (AGI). (If an input field is not used in the table, leave the input field emp Interest on loan on personal auto Charitable contributions 80.000 State income tax paid income 6,500 20,000 (15,000) State sales tax paid g-term capital gain -g-term capital loss Ed gross income (AGI) Property taxes Tax return preparation and consulting fee 91,500 Jed's income consisted of the following items Iculate the itemized deductions. (Complete all input fields. Enter a "0" for appropriate balances.) al expenses 9,500 712.50 7.5% of AGI s medical expenses 8787.50 Print De 20, Jed, a single, cash method taxpayer had the following income items a the icon to view the income items and expenditures.) the icon to view the standard deduction schedule.) equirements gross income (AGI) 91,500 ulate the itemized deductions. (Complete all input fields. Enter a "O" for app xpenses 9,500 7.5% of AGI 712.50 medical expenses 8787.50 ent interest 12000 ent income 7300 residence interest 12500 5000 paration and consulting fees mized deductions 45,587.50 Jed's taxable income for the year. iment income 1304 fied residence interest 12500 reparation and consulting fees 5000 itemized deductions 45,587.50 Dute Jed's taxable income for the year. usted gross income (AGI) 91500 us: Deductions from AGI: Itemized deductions (45,587.50) able income 45,912.50 quirement b. What is Jed's investment interest carryover (if any)? a's investment interest carryover is ed incurred the following expenditures: Qualified medical expenses $ 9,500 Investment interest expense 12,000 Other investment activity expenses 14,000 Qualified residence interest 12,500 Interest on loan on personal auto 2,300 Charitable contributions 3,000 State income tax paid 7,300 State sales tax paid 4,800 Property taxes 3,600 Tax return preparation and consulting fees 5,000 Jed's income consisted of the following items: Interest on loan on personal auto 2,300 Charitable contributions 3,000 State income tax paid State sales tax paid 7,300 4,800 Property taxes 3,600 Tax return preparation and consulting fees 5,000 Jed's income consisted of the following items: Salary $ 80,000 Interest income 6,500 Long-term capital gains 20,000 Long-term capital losses (15,000)