LO.2 Linda, age 37, who files as a single taxpayer, had AGI of $280,000 for 2018. She
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LO.2 Linda, age 37, who files as a single taxpayer, had AGI of $280,000 for 2018. She incurred the following expenses and losses during the year. Medical expenses (before the 7.5%-of-AGI limitation) State and local income taxes State sales tax Real estate taxes $33,000 4,800 1,300 6,000 Home mortgage interest 5,000 Automobile loan interest 750 Credit card interest 1,000 Charitable contributions 7,000 Casualty loss (before 10% limitation but after $100 floor; not in a Federally declared disaster area) 34,000 Unreimbursed employee business expenses Calculate Linda's allowable itemized deductions for the year. 7,600
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Related Book For
Essentials Of Taxation Individuals And Business Entities 2019
ISBN: 9780357233290
1st Edition
Authors: William A Raabe, James C Young
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