Question: Problem 6-60(LO 6-4)(Static)Felipe, a single taxpayer, age 67, continues to work as a waiter as a beach resort. In 2025, he earned $27,000 as tip
Problem 6-60(LO 6-4)(Static)Felipe, a single taxpayer, age 67, continues to work as a waiter as a beach resort. In 2025, he earned $27,000 as tip income as a waiter, $15,000 as overtime compensation as a waiter, in addition to $50,000 as base salary. Felipe also paid $3,000 in interest on a car loan he incurred to buy a brand new car in 2025. Assume that all of Felipes income and car loan interest has been properly reported by his employer and lender and that Felipes modified AGI is 165,100.Required:Besides a standard deduction, what from AGI deductions can Felipe deduct based on this information?Can Felipe deduct his car loan interest?
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