Question
Mitch, who is single and age 66 and has no dependents, had AGI of $100,000 in 2015. His potential itemized deductions were as follows: Medical
Mitch, who is single and age 66 and has no dependents, had AGI of $100,000 in 2015. 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 (qualified housing and residence) interest 9,000
Cash contributions to various charities 4,000
Unreimbursed employee expenses (before percentage limitation) 4,300
What is the amount of Mitchs AMT adjustment for itemized deductions for 2015?
a. $14,800
b. $16,800
c. $19,300
d. $25,800
e. None of the above
Please provide calculation & explanation
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