In 2017, Jeff, who is single, is entitled to the following deductions before phase-outs: State income taxes
Question:
In 2017, Jeff, who is single, is entitled to the following deductions before phase-outs:
State income taxes .................................. $7,850
Real estate taxes .........................................1,900
Home mortgage interest ...........................8,200
Charitable contributions.............................1,700
a. Assume that Jeff's AGI is $280,000. Calculate Jeff's itemized deductions after considering the overall phase-out of itemized deductions.
b. Suppose that Jeff's AGI increases to $1,280,000. Calculate Jeff's itemized deductions after considering the overall phase-out of itemized deductions.
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a Jeffs itemized deductions are 19095 calculated as follows Description Amount Taxesstate income and ...View the full answer
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Related Book For 
Essentials Of Federal Taxation 2018
ISBN: 9781260007640
9th Edition
Authors: Brian Spilker, Benjamin Ayers, John Robinson, Edmund Outslay, Ronald Worsham, John Barrick, Connie Weaver
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