Question
Pedro, who is a single taxpayer, had AGI of $373,800 for 2017. He incurred the following expenses during the year: Medical expenses before 10%-of-AGI limitation
Pedro, who is a single taxpayer, had AGI of $373,800 for 2017. He incurred the following expenses during the year:
- Medical expenses before 10%-of-AGI limitation $14,420
- State and local income taxes $11,214
- Real estate taxes $2,243
- Home mortgage interest $18,690
- Charitable contributions $4,486
- Deductible investment interest expense $1,682
Compute the amount of Pedro's itemized deductions after any applicable reductions and/or limitations. Round your computations to the nearest dollar and use rounded amounts in subsequent calculations. $_____________________
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Auditing Cases An Interactive Learning Approach
Authors: Steven M Glover, Douglas F Prawitt
4th Edition
0132423502, 978-0132423502
