Question: I am having a hard time getting the deductions correct on schedule A. When i put it my itemized deduction in form 1040, it tells
I am having a hard time getting the deductions correct on schedule A. When i put it my itemized deduction in form 1040, it tells me i am wrong no matter what I have added/removed. I am not sure where I am going wrong after 2 hours...please help!
Kofi Allon, who is 32 years old and single, is employed as a technical consultant for a large electronics distributor. He lives at 678 Birch Street, LaMesa, CA 91941. Kofi's Social Security number is 412-34-5670 (date of birth 5/29/1988).
Kofi's W-2 contained the following information:
| Wages (box 1) = | $ 75,350.62 |
|---|---|
| Federal W/H (box 2) = | $ 9,605.43 |
| Social security wages (box 3) = | $ 75,350.62 |
| Social security W/H (box 4) = | $ 4,671.74 |
| Medicare wages (box 5) = | $ 75,350.62 |
| Medicare W/H (box 6) = | $ 1,092.58 |
Kofi's other income includes interest on a money market account at the San Diego Credit Union of $275 and $265 in interest on a Certificate of Deposit at the Bank of California. He also made alimony payments of $650 per month to his ex-wife for ten months for a divorce agreement that was finalized on February 21, 2021. (Marta Tombe, Social Security number 412-34-5673).
In addition, he had the following other expenses for 2021:
| Home mortgage interest | $ 7,670 |
|---|---|
| Auto loan interest | 1,325 |
| Credit card interest | 730 |
| Property taxes on personal residence | 2,342 |
| State income taxes | 2,050 |
| Unreimbursed hospital bills | 6,300 |
| Doctor bills | 2,760 |
| Other qualifying medical expenses | 725 |
| Income tax preparation fee | 425 |
| Job-hunting expenses | 925 |
| Cash donations to his church (made ratably over the year and no single contribution was greater than $250) | 885 |
In may of 2021, Kofi's house was broken into and his vintage 1961 Fender Stratocaster guitar was stolen. The guitar had a current fair market value of $16,800, and Kofi had paid $7,500 for the instrument in May of 2008. The guitar was uninsured.
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