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:

o $$9,500$ hospital and doctor bills

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

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

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

o $$600$ friend$$s personal GoFundMe campaign

o $$350$ cash contributions to the Red Cross

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

o $$7,300$ mortgage interest

o $$2,300$ real estate tax

o $$1,500$ homeowners association fees

o $$4,000$ gambling losses

Advanced Scenario $5$: Test Questions

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$