# 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

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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.

Related Book For

## Essentials Of Federal Taxation 2018

9th Edition

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

ISBN: 9781260007640