Question: Arnold and Beth file a joint return. Use the following data to calculate their deduction for AGI. Mortgage interest on personal residence .........$ 4,000 Property

Arnold and Beth file a joint return. Use the following data to calculate their deduction for AGI.

Mortgage interest on personal residence .........$ 4,000

Property taxes on personal residence......... 2,000

Alimony payments ................. 12,000

Moving expenses ............... 6,000

Charitable contributions ........... 1,500

State income taxes ................. 5,000

Investment interest ($8,000 of expenses limited to

net investment income of $6,000) ........... 6,000

Unreimbursed employee expenses ........... 2,500

Sales taxes .................. 2,600


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