Please answer Problem one with proper excel calculations

Chapter 7 Homework Name: There are three problems presented on three different worksheets. Students should properly present the solutions and compute any calculations using excel formulas. Amounts presented should be properly formatted. Display answers using whole dollars. 1) George contributes $35,000 to his church and 100 shares of XYZ stock to the American Red Cross. The shares were purchased three years ago for $10,000 but were worth $18,000 as of the donation date. George's AGI this year is $100,000. Assuming no elections are made, determine his current year (2016) charitable contribution deduction and the amount of any carryover to next year (2017). Provide the answer with adequate explanation of any calculations. e 0 but ,000. ble ). 2) Jana's AGI for the 2016 is $120,000. Included in this AGI is $100,000 salary and $20,000 of interest income. In earning the investment income, Jana paid investment interest expense of $30,000. She also incurred the following expenditures subject to the 2% of AGI limitation: Investment expenses: Subscriptions to investment journals Investment counseling Safe-deposit box rental for stock certificates $ Non-investment expenses: Unreimbursed employee business expenses Tax return preparation fees (non-business-related) 500 1,500 100 1,800 500 What is Jana's investment interest expense deduction for 2016? Compute the allowed 2016 deduction and the amount of the carryover, if any. 3 a) Matt paid the following taxes for 2016: Real estate taxes on his own residence State income taxes Local city income taxes State sales taxes $ 3,600 900 300 1,400 What is the maximum amount that Matt can deduct as itemized deduction(s) on his 2016 federal income tax return? Consider deductible taxes only. Include a detailed calculation of the allowed tax deduction(s) and an explanation of your answer. 3 b) During 2016 Jason and Sandy, cash basis taxpayers, paid the following taxes: State gift tax Property tax on home in the United States State income tax (withholdings) Estimated federal income tax Estimated state incme tax (paid by check) Special assessment by city for sidewalks and street lighting on their street $ 1,000 4,100 3,000 4,500 800 2,000 What amount can Jason and Sandy claim as itemized deductions for taxes on their 2016 federal income tax return? Include a detailed calculation of the allowed deduction(s) and an explanation of your