Question
They paid $2,798 in property taxes on their joint Idabel primary residence, and then James incurred and paid $1,444 on his new Edmond residence after
They paid $2,798 in property taxes on their joint Idabel primary residence, and then James incurred and paid $1,444 on his new Edmond residence after the move, made a cash contribution to their church of $125,282 and another cash contribution of $1,500 to the Indonesian Disaster Relief Fund in Nepal.They paid $430 during 2018 for the preparation of their 2017 income tax returns and $125 to rent a safety deposit box at a local bank for important papers including tax returns.Proper documentation exists for all of the above. James incurred investment advice expenses of $1,500 and investment interest of $1,250.
How much of these expenses would be included in taxable income and how much would be included in deductions for tax purposes in regards to the 2018 tax year?
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