Larry, a calendar year cash basis taxpayer, has the following transactions: Salary from job - $60,000 Alimony paid to ex-wife - $9,000 Medical expenses -
Larry, a calendar year cash basis taxpayer, has the following transactions: Salary from job - $60,000 Alimony paid to ex-wife - $9,000 Medical expenses - $4,500 Based on this information, Larry has:
a.
Medical expense deduction of $0.
b.
AGI of $60,000.
c.
AGI of $51,000.
d.
AGI of $46,500.
e.
None of the options.
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Authors: Harry I. Wolk, James L. Dodd, John J. Rozycki
7th Edition
1412953456, 978-1412953450
