6. Betty is age 34 and has AGI of $50,000. The following items may qualify as itemized...
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6. Betty is age 34 and has AGI of $50,000. The following items may qualify as itemized deductions for Betty:
Qualified medical expenses (before percentage of AGI floor) $3,000 Real estate tax 1,200 State income tax 800 Charitable contributions 600 Mortgage interest on acquisition indebtedness 2,000 Home equity interest on a loan used to improve the home 300 What are the itemized deductions allowed for the AMT?
a. $2,500
b. $2,900
c. $3,400
d. $3,700
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Related Book For
Essentials Of Taxation Individuals And Business Entities
ISBN: 233160
1st Edition
Authors: Nellen/Young/Raabe/Maloney
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