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Mitch, who is single and age 46 and has no dependents, had AGI of $100,000 this year. His potential itemized deductions were as follows. Medical
Mitch, who is single and age 46 and has no dependents, had AGI of $100,000 this year. His potential itemized deductions were as follows.
Medical expenses (before percentage limitation) | $15,000 |
State income taxes | 3,000 |
Real estate taxes | 7,000 |
Mortgage interest (acquisition of primary residence) | 13,000 |
Home equity loan interest (loan used to finance the purchase of a car) | 4,000 |
Unreimbursed employee expenses (before percentage limitation) | 4,300 |
What is the amount of Mitch's AMT adjustment for itemized deductions for 2017?
a.$10,000.
b.$16,300.
c.$12,300.
d.$34,300.
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