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Mark is a single taxpayer and works as a migrant fisherman. He has an Adjusted Gross Income of $100,000. Mark has the following personal expenses:
Mark is a single taxpayer and works as a migrant fisherman. He has an Adjusted Gross Income of $100,000. Mark has the following personal expenses:
- Medical expenses: $10,500
- State taxes paid: $6,000
- Property taxes paid: $7,000
- Home mortgage interest: $5,500
- Charitable Contributions: $1,000
What is the maximum amount Mark can deduct after AGI limitations?
Group of answer choices
None, he is only eligible for the $12,550 standard deduction.
$19,500.
$27,000.
$30,000.
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