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Hugh, a single individual, had the below items in 2020. The standard deduction for a single individual in 2020 is $12,400. Calculate Hugh's AGI and
Hugh, a single individual, had the below items in 2020. The standard deduction for a single individual in 2020 is $12,400. Calculate Hugh's AGI and his Taxable Income. $103,000 $10,000 Wages Medical expenses Charitable contribution to the University of Minnesota Real estate tax on Minnesota residence 800 3,800 Minnesota income tax withheld 7,700 during 2020 Contribution to Health Savings Account 2,000 Real estate tax on a vacation home 1,100 State sales tax 2,000 Student Loan interest 1,000 Contribution to Roth IRA 3,000
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