Jordan Johnson is single and has adjusted gross income of $50,000 in the current year. Additional information
Question:
Jordan Johnson is single and has adjusted gross income of $50,000 in the current year. Additional information is as follows:
What amount may Jordan claim as itemized deductions on her current-year income tax return?
a. $12,000
b. $12,900
c. $13,300
d. $15,900
Transcribed Image Text:
State income taxes paid Mortgage interest on her personal residence Points paid on purchase of her personal residence Deductible contributions to her IRA Uninsured realized casualty loss (in a Federal disaster area) Tax preparation fees for her prior year income tax return $2,000 9,000 1,000 3,000 6,000 400
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Choice b is correct 12900 of itemized deductions for the current year calculated as follows Note The ...View the full answer
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Related Book For
South Western Federal Taxation 2023 Comprehensive Volume
ISBN: 9780357719688
46th Edition
Authors: Annette Nellen, Andrew D. Cuccia, Mark Persellin, James C. Young
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