Question: Stan Lee is single with no dependents. After applying the AGI floor to his medical expenses, Stan Lee had deductible qualified medical expenses of $5,000.

Stan Lee is single with no dependents. After applying the AGI floor to his medical expenses, Stan Lee had deductible qualified medical expenses of $5,000. In addition, after applying the appropriate limitation to his charitable contributions, he had deductible charitable contributions of $4,000. Finally, after determining his 20% deduction for qualified business income, he determined the deductible amount was $2,000. All amounts are for the current tax year and he has no other itemized deductions. What is Stan Lees total FROM AGI deductions for the current tax year (please ignore any amounts related to the special 2021 Covid-related charitable contribution deduction for texpayers not itemizing deductions, if it applies)?

Multiple Choice

  • $12,550.

  • $9,000.

  • $11,000.

  • None of these.

  • $14,550.

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