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In 2014, Jeff, who is single, is entitled to the following deductions before phase-outs: State income taxes ..................................... $7,850 Real

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In 2014, 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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Related Book For  answer-question
Taxation Of Individuals And Business Entities 2015

Taxation Of Individuals And Business Entities 2015

ISBN: 9780077862367

6th Edition

Authors: Brian Spilker, Benjamin Ayers, John Robinson, Edmund Outslay, Ronald Worsham, John Barrick, Connie Weaver

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Question Posted: January 20, 2017 10:15:56
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