For calendar year 2022, Stuart and Pamela Gibson file a joint return reflecting AGI of $372,000....

 

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For calendar year 2022, Stuart and Pamela Gibson file a joint return reflecting AGI of $372,000. Their itemized deductions are as follows: Note: All expenses are before any applicable limitations, unless otherwise noted. Casualty loss in a Federally declared disaster area (not covered by insurance; before the 10%-of-AGI limitation but after the $100 floor) $61,600 Home mortgage interest (loan qualifies as acquisition indebtedness) Credit card interest 24,640 1,232 Property taxes on home Charitable contributions State income tax Tax return preparation fees 18,480 33,880 21,560 1,848 Round your final answers to the nearest whole dollar. Calculate the amount of itemized deductions the Gibsons may claim for the year. For calendar year 2022, Stuart and Pamela Gibson file a joint return reflecting AGI of $372,000. Their itemized deductions are as follows: Note: All expenses are before any applicable limitations, unless otherwise noted. Casualty loss in a Federally declared disaster area (not covered by insurance; before the 10%-of-AGI limitation but after the $100 floor) $61,600 Home mortgage interest (loan qualifies as acquisition indebtedness) Credit card interest 24,640 1,232 Property taxes on home Charitable contributions State income tax Tax return preparation fees 18,480 33,880 21,560 1,848 Round your final answers to the nearest whole dollar. Calculate the amount of itemized deductions the Gibsons may claim for the year.

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