Evan is single and has AGI of $277,300 in 2018. His potential itemized deductions before any limitations
Question:
Evan is single and has AGI of $277,300 in 2018. His potential itemized deductions before any limitations for the year total $52,300 and consist of the following:
Medical expenses (before the 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 2019 Comprehensive
ISBN: 9781337703017
42th Edition
Authors: David M. Maloney, William A. Raabe, William H. Hoffman, James C. Young