1. Draft a letter regarding the choice of depreciation methods. helens address is 500 Monticello avenue, Glendale...
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1. Draft a letter regarding the choice of depreciation methods. helens address is 500 Monticello avenue, Glendale az 85306.
2. Wolfgang is age 33. his agi is $125,000. he reports the following itemized deductions for 2013: medical expenses [$15,000 – (10% x $125,000)] $2,500 state income taxes $4,200 charitable contributions $5,000 home mortgage interest on his person residence $6,000 casualty loss (after $100 and 10% reductions) $1,800 miscellaneous itemized deductions [$3,500 – (2% x $125,000)] $1,000 $20,500
a. calculate Wolfgang’s itemized deductions for amt purposes.
b. what is the amount of the amt adjustment?
Related Book For
South Western Federal Taxation 2015
ISBN: 9781305310810
38th edition
Authors: William H. Hoffman, William A. Raabe, David M. Maloney, James C. Young
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