ACCOUNTING

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

Mortgage interest on personal residence	$ 6,000
Property taxes on personal residence	2,500
Alimony payments	12,000
Moving expenses	7,000
Charitable contributions	1,500
State income taxes	5,000
Investment interest ($8,000 of expenses limited to net investment income of $7,500)	7,500
Unreimbursed employee expenses	2,500
Sales taxes	2,600