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John smith files as single taxpayer had AGI of $400,000 and incurred the following expenses. Calculate his itemized deduction for 2018 Medical Expenses(Before 10% of
John smith files as single taxpayer had AGI of $400,000 and incurred the following expenses. Calculate his itemized deduction for 2018 Medical Expenses(Before 10% of AGI limitation) 15,000 State and local Income Taxes 12,500 Real Estate Taxes 25,000 Home Mortgage Interest(home loan $1,500,000) 100,000 Automobile Loan Interest 650 Credit Card interest 1,200 Charitable Contribution 7,000 Casualty loss (Before 10% but after $100 floor) 34,000 Unreimbursed employee expenses subject to the 2%-of-AGI Limitation 6,200 Home Equity Loan interest(Principal $100,000) 6,000
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