Question: please help answer this question Sam is single, 30, and has no children. He made a salary of $250,000 with $40,000 in Federal withholding. He

please help answer this question

Sam is single, 30, and has no children. He made a salary of $250,000 with $40,000 in Federal withholding. He has the following items:

Medical 8,000

Mortgage interest 5,000

Credit card interest 2,000

Property tax 2,500

Sales tax 1,500

State income tax withheld 22,000

Charitable contributions 1,000

Tax return preparation fee 500

Casualty loss of $40,000 on uninsured boat

Please show your work.

a. Compute the adjusted gross income.

b. Compute the itemized deductions before any limitations.

c. Compute the taxable income.

d. Compute the tax liability.

e. Is he subject to alternative minimum tax? Why or why not?

f. Compute his tax refund or tax due.

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