Question: Exercise 10-22 (Algorithmic) (LO. 8) Pedro, who is a single taxpayer, had AGI of $373,800 for 2017. He incurred the following expenses during the year:

Exercise 10-22 (Algorithmic) (LO. 8) Pedro, who is a single taxpayer,

Exercise 10-22 (Algorithmic) (LO. 8) Pedro, who is a single taxpayer, had AGI of $373,800 for 2017. He incurred the following expenses during the year: . Medical expenses before 10%-of-AGI limitation $15,740 State and local income taxes $11,214 . Real estate taxes $2,243 Home mortgage interest $18,690 . Charitable contributions $4,486 Deductible investment interest expense $1,682 Compute the amount of Pedro's itemized deductions after any applicable reductions and/or limitations. Round your computations to the nearest dollar and use rounded amounts in subsequent calculations 39,472X Feedback Check My Work In the American Taxpayer Relief Act of 2012, Congress reinstated several provisions limiting tax benefits for high-income taxpayers. The limitations include the exemption phaseout and a phaseout of itemized deductions

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