Answered step by step
Verified Expert Solution
Question
1 Approved Answer
IT'S ONLY 2 QUESTIONS. this is just the info, which is long Roberta Wilson is 63 years old and single. Her grandson, Jacob, is 9
IT'S ONLY 2 QUESTIONS. this is just the info, which is long
- Roberta Wilson is 63 years old and single.
- Her grandson, Jacob, is 9 years old and lived with her all year. Roberta paid all household expenses and Jacob qualifies as her dependent.
- Roberta and Jacob are both U.S. citizens and have valid Social Security numbers.
- Roberta claimed EIC for Jacob on her 2015 tax return, but he only lived with her for 2 months and the credit was disallowed.
- Roberta had wage income of $35,000 in 2018.
- She is not sure if she should itemize or take the standard deduction.
- Roberta paid the following:
- $7,200 mortgage interest for a qualified home purchased in 2010.
- In 2018, she took out a home equity loan for $8,000 to pay off her credit cards. She paid interest in the amount of $650 on this loan.
- $9,010 for real estate taxes.
- $1,762 for state income taxes withheld in 2018.
- Unreimbursed doctor bills in the amount of $2,200.
- Unreimbursed prescription drugs for $250.
- Health club dues of $600.
- A statement received from her church showing donations made throughout the year totaling $4,500.
- Receipts for donations of furniture and clothing in good, used condition to Goodwill. The total estimated fair market value is $500.
- $50 donated to a friend in need via their Go-Fund-Me account.
- $45 paid in 2018 on her 2017 balance due state income tax return.
32. If Roberta itemizes, what amount is she able to deduct for state income and real estate taxes?
| |||||||||||
| |||||||||||
| |||||||||||
|
33. If Roberta chooses not to itemize, how much is her standard deduction?
| |||||||||||
| |||||||||||
| |||||||||||
|
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started