Problem 10-44 (LO. 2, 3, 4, 5, 6, 7, 8)

For calendar year 2015, Stuart and Pamela Gibson file a joint return reflecting AGI of $350,000. Their itemized deductions are as follows. Note: All expenses are before any applicable limitations, unless otherwise noted.

Casualty loss after $100 floor (not covered by insurance)	$48,600
Home mortgage interest	19,000
Credit card interest	800
Property taxes on home	16,300
Charitable contributions	28,700
State income tax	18,000
Tax return preparation fees	1,200

Round your intermediate computations to nearest whole dollar.

The Gibson's total itemized deductions before any phaseout are $ 95600

The Gibson's total itemized deduction is $ .