Question
Question:Problem 10-43 (a) (LO. 2, 3, 4, 5, 6, 7, 8) Stacey, age 35, files as head of household with two dependents. She has AGI
Question:Problem 10-43 (a) (LO. 2, 3, 4, 5, 6, 7, 8)
Stacey, age 35, files as head of household with two dependents. She has AGI of $123,000 for 2016. She incurred the following expenses and losses during the year:
Medical expenses before the 10%-of-AGI limitation$12,500
State and local income taxes7,200
State sales tax1,400
Real estate taxes2,800
Home mortgage interest5,900
Credit card interest1,100
Charitable contribution2,400
Casualty loss before 10% limitation (after $100 floor)8,300
Unreimbursed employee expenses subject to the 2%-of-AGI limitation5,500
Stacey's total itemized deductions before any phaseout are $______________.
Stacey's total itemized deduction is $__________________.
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