Paul reported the following itemized deductions on his 2017 tax return. His AGI for 2017 was $65,000.

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Paul reported the following itemized deductions on his 2017 tax return. His AGI for 2017 was $65,000. The mortgage interest is all qualified mortgage interest to purchase his personal residence. For AMT, compute his total adjustment for itemized deductions.

Medical expenses (after the 10.0% of AGI floor) ............................ $6,000

State income taxes ................................................................................3,600

Home mortgage interest ....................................................................11,500

Charitable contributions.......................................................................3,200

Miscellaneous itemized deductions (after the 2% of AGI floor) ......1,800


a. $1,800.

b. $3,600.

c. $5,400.

d. $20,100.

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Fundamentals Of Taxation 2018

ISBN: 9781259713736

11th Edition

Authors: Ana M. Cruz Dr., Michael Deschamps, Frederick Niswander, Debra Prendergast, Dan Schisler

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