Geoffrey, age 45, is recently divorced and maintains a household in which his dependent aunt lives. He has the following income and expenses in 2019: Salary income Interest income $74,000 1,200 1,800 12,000 2,500 900 1,600 Dividend income Child support paid Mortgage interest on residence Property tax on residence Medical expenses for Geoffrey Medical expenses for aunt Penalty imposed on premature withdrawal of funds from a certificate of deposit State income tax Federal income tax 5,950 675 2,440 12,300 a. Classify the following expenses as either "Deductible for AGI", "Deductible from AGI", or "Not deductible". Child support paid Not deductible Mortgage interest on residence Deductible from AGI Property tax on residence Deductible from AGI Medical expenses for Geoffrey Deductible from AGI Mortgage interest on residence Deductible from AGI Property tax on residence Medical expenses for Geoffrey Deductible from AGI Deductible from AGI Medical expenses for aunt Deductible from AGI Deductible for AGI Penalty imposed on premature withdrawal of funds from a certificate of deposit State income tax Deductible from AGI Federal income tax Not deductible The standard deduction for single is $12,200 and $18,350 for head-of-household filing status. If required, round your answers to the nearest dollar. b. Geoffrey's gross income is $ 77,000 , and his AGI is $ 76,325 . C. Compute the amount of his total itemized deductions (after any limitations). Se 13,390 x d. Compute his taxable income. $ 62,935 X Geoffrey, age 45, is recently divorced and maintains a household in which his dependent aunt lives. He has the following income and expenses in 2019: Salary income Interest income $74,000 1,200 1,800 12,000 2,500 900 1,600 Dividend income Child support paid Mortgage interest on residence Property tax on residence Medical expenses for Geoffrey Medical expenses for aunt Penalty imposed on premature withdrawal of funds from a certificate of deposit State income tax Federal income tax 5,950 675 2,440 12,300 a. Classify the following expenses as either "Deductible for AGI", "Deductible from AGI", or "Not deductible". Child support paid Not deductible Mortgage interest on residence Deductible from AGI Property tax on residence Deductible from AGI Medical expenses for Geoffrey Deductible from AGI Mortgage interest on residence Deductible from AGI Property tax on residence Medical expenses for Geoffrey Deductible from AGI Deductible from AGI Medical expenses for aunt Deductible from AGI Deductible for AGI Penalty imposed on premature withdrawal of funds from a certificate of deposit State income tax Deductible from AGI Federal income tax Not deductible The standard deduction for single is $12,200 and $18,350 for head-of-household filing status. If required, round your answers to the nearest dollar. b. Geoffrey's gross income is $ 77,000 , and his AGI is $ 76,325 . C. Compute the amount of his total itemized deductions (after any limitations). Se 13,390 x d. Compute his taxable income. $ 62,935 X
