Mary is single with AGI of $150,000. Mary made the following payments in 2020: Medical expenses 8
Fantastic news! We've Found the answer you've been seeking!
Question:
Mary is single with AGI of $150,000. Mary made the following payments in 2020:
Medical expenses 8 000
State income tax withholdings 7 000
Sales tax payments 2 000
Real estate taxes 6 000
interest on qualified home mortgage 10 000
Charitable contribution ABC Corporation stock
Mary purchased her home in 2020 and the original mortgage on the home has a principal balance of $900,000.
Mary purchased ABC stock for $15,000 in 2018 and the stock had a fair market value of $18,000 when she made the donation to a public charity in 2020.
Calculate the amount of Mary's 2020 itemized deductions.
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date: