Evan is single and has AGI of $277,300 in 2017. His potential itemized deductions before any limitations
Question:
Evan is single and has AGI of $277,300 in 2017. His potential itemized deductions before any limitations for the year total $52,300 and consist of the following:
Medical expenses (before the 10%-of-AGI limitation) .......................... $28,000
Interest on home mortgage .................................................................... 8,700
State income taxes .................................................................................. 9,500
Real estate taxes ..................................................................................... 3,600
Charitable contributions ........................................................................ 2,500
After all necessary adjustments are made, what is the amount of itemized deductions Evan may claim?
Step by Step Answer:
South-Western Federal Taxation 2018 Comprehensive
ISBN: 9781337386005
41st Edition
Authors: David M. Maloney, William H. Hoffman, Jr., William A. Raabe, James C. Young