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Vanessa files as single, which entitles her to a $12,000 standard deduction. Since she bought a house several years ago, she has deductible expenses of:
Vanessa files as single, which entitles her to a $12,000 standard deduction. Since she bought a house several years ago, she has deductible expenses of: Mortgage interest = $7,800 Property taxes = $2,940 State taxes = $3,250 Assuming Vanessa chooses the largest possible deduction, how much does she get to deduct from her adjusted gross income?
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