Question
Marry and Max had adjusted gross income of 358000. They have itemized deductions of $20,000 consisting of $8,000 in medical expenses that exceed 10% of
Marry and Max had adjusted gross income of 358000. They have itemized deductions of $20,000 consisting of $8,000 in medical expenses that exceed 10% of adjusted gross income ,$3,000 in property taxes, $4000 in housing interest, and $5000 in miscellaneous itemized deductions that exceed 2% of adjusted gross income. What is the amount of their itemized deductions?
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Managerial Accounting
Authors: Susan V. Crosson, Belverd E. Needles
11th Edition
0538742801, 978-0538742801
