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Mr. and Mrs. Hunt have the following allowable itemized deductions this year. Medical expenses=3200 State and local tax=7000 casualty loss =4000 charitable contribution=3500 Miscellaneous itemized
Mr. and Mrs. Hunt have the following allowable itemized deductions this year. Medical expenses=3200 State and local tax=7000 casualty loss =4000 charitable contribution=3500 Miscellaneous itemized deductions=225 Determine the effect on the amount of each deduction if the Hunts engage in a transaction generating $10,000 additional AGI this year
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