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

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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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Income Tax Fundamentals 2013

ISBN: 9781285586618

31st Edition

Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill

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Question Posted: Feb 08, 2013 02:33 AM

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

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Computation of the Calculate the deduction for AGI Alimony pa...View the full answer

Income Tax Fundamentals 2013

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