Question
What is Ben's taxable income? in 2019? Salary: $ 170000 Qualified Home mortgage interest expense paid to B of A (Received 1098). $17000 Property taxes
What is Ben's taxable income? in 2019?
Salary: $ 170000
Qualified Home mortgage interest expense paid to B of A (Received 1098). $17000
Property taxes on home: 13000
In addition: Ben received a refund on 5/15/2019 for overpayment of 2018 California State Income Tax. Ben's itemized deductions in 2018 totaled $24,900. The standard deduction for 2018 was $24,000. His grandmother died and he received the proceeds from her life insurance policy of $20,000. Ben's employer paid $385 per month to provide Ben with parking in downtown San Meteo.
Ben contributed $12,000 to a 529 plan for Randy. The money was invested in a mutual fund that paid $400 interest in. never withdraw
Ben wants any overpayment of his federal tax credited toward next years taxes. come in 2019.
Payment to the dentist for braces for kids: 150000
won a new car in a raffle with an FMV of $30000
long-term stock: 11000
spent $3,500 for auto expenses related to his job for which he was not reimbursed
Tax return preparation fee : $500
Interest income from City Bonds: 6000
Interest income from US Treasury bonds:4000
Charitable contribution by check to State University: 9500
Federal Estimated Tax paid for 2019 tax year: 4550
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