Question
Sanjay and Kiran Gupta have adjusted gross income of $124,600 in 2019. They provide you the following additional information: 1. Sanjay paid $4,600 as his
Sanjay and Kiran Gupta have adjusted gross income of $124,600 in 2019. They provide you the following additional information:
1. Sanjay paid $4,600 as his share of medical insurance premiums for his family (his employer paid the balance). During the year, the family paid the following amounts for medical care: $8,700 in doctor, dentist, and optometrist bills and hospital expenses and $1,600 for prescribed medicine and drugs. In December, they received an insurance reimbursement of $3,100.
2. Paid the following amounts related to their personal residence: $10,500 in real estate taxes, $13,325 in mortgage interest on their original mortgage, $720 in interest on a home equity loan (the proceeds were used to buy a new car), $1,045 for repairs to various household items (inclduing the furnace and dishwasher), $3,820 in utilities, $1,245 for lawn care and landscaping, and $1,520 in homeowners insurance.
On a blank sheet of paper, determine total itemized deductions for the Gupta family (detail all your work
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