Advanced Scenario $5$: Test Questions Elizabeth Greene

Interview Notes

Elizabeth is $54$ years old and files as single.

Her $2024$ adjusted gross income $($AGI$)$ is $$52,000,$ which includes gambling winnings of $$2,000.$

Elizabeth would like to itemize her deductions on Form $1040$ Schedule A this year.

Elizabeth brings documents for the following items:

$$9,500$ hospital and doctor bills

$$600$ contributions to Health Savings Account $($HSA$)$

$$3,600$ state withholding $($higher than Elizabeth's calculated state sales tax deduction$)$

$0$$$300$ personal property taxes based on the value of the vehicle

$$600$ friend's personal GoFundMe campaign

o $$350$ cash contributions to the Red Cross

$0$$$200$ fair market value of clothing $($in good used condition$)$ donated to the Salvation Army $($Elizabeth purchased the clothing for $$900)$

$$7,300$ mortgage interest

$$2,300$ real estate tax

$$1,500$ homeowners association fees

$$4,000$ gambling losses

Advanced Scenario $5$: Test Questions

$12.$ What amount of gambling losses is Elizabeth eligible to claim as a deduction on her Form $1040,$ Schedule A$?$

a$.$ $$0$

b$.$ $$1,000$

c$.$ $$2,000$

d$.$ $$4,000$