Question
The TP had the following personal expenses: Real Property Taxes$ 4,900 2020 State income tax withholdings$ 3,200 Personal Property Taxes on family car [(2% x
The TP had the following personal expenses:
Real Property Taxes$ 4,900
2020 State income tax withholdings$ 3,200
Personal Property Taxes on family car
[(2% x FMV of car ($35,000) + flat
fee of $100)]$ 800
Medical Bills$10,500
Home Mortgage Interest (from Form 1098)$ 9,000
Charitable contributions - public charities $ 3,000(cash)
They made quarterly estimated payments toward their 2020 state income taxes: 4/15/20 - $500; 6/14/20 - $500; 9/14/20 - $500; 1/15/21 - $500.
If the TPs AGI was $100,000, which of the following is correct?
a. Schedule A, Line 11 would be $720.
b. Schedule A, Line 8b would be $9,000.
c. Schedule A, Line 5e would be $10,300.
d. Schedule A, Line 4 would be $3,000.
If the TP in above had the filing status of married filing jointly, the amount on Form 1040, Line 9 should be:
a. $12,400.
b. $24,800.
c. $25,000.
d. $27,700.
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