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The Client wants to better understand how floors and ceilings work with respect to itemized deductions. As such, you have been asked to prepare a
The Client wants to better understand how floors and ceilings work with respect to itemized deductions. As such, you have been asked to prepare a functional spreadsheet emulating Schedule A to demonstrate the calculations using formulas. Required: 1. Complete Schedule A using formulas to calculate applicable lines. Itemized deduction amounts have already been entered. (Hint: use a Cell Reference the Adjusted Gross Income amount provided below in Cell D10.) Form 1040 Line 11 - Adjusted Gross Income: 86,000
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