Donna, a single individual with no dependents, reports AGI of $100,000. She also reports the following itemized

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Donna, a single individual with no dependents, reports AGI of $100,000. She also reports the following itemized deductions:

Medical expenses in excess of 7.5% AGI $ 1,000 Home acquisition mortgage interest 10,000 Property taxes on principal residence 3,000 State income taxes 6,000 Qualified charitable contributions 5,000 Miscellaneous itemized deductions in excess of 2% AGI 3,000 What amount of these deductions is allowed in the determination of Donna’s alternative minimum taxable income (AMTI)?

a. $10,000

b. $15,000

c. $18,000

d. $28,000.

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Taxation For Decision Makers 2008

ISBN: 9780324654110

2nd Edition

Authors: Shirley Dennis-Escoffier, Karen A. Fortin

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