Question: Part 2 - Exercises/problems - 20% Itemized deductions fall into one of six groups. Two of the groups are (1) casualty and theft losses and

Part 2 - Exercises/problems - 20% Itemized deductions fall into one

Part 2 - Exercises/problems - 20% Itemized deductions fall into one of six groups. Two of the groups are (1) casualty and theft losses and most other miscellaneous itemized deductions and (2) other miscellaneous deductions. What are the other four groups? John and Jamie Kerr (ages 67 and 64, respectively) do not claim any dependents on their joint tax return. Both have good vision. Compute their 2020 taxable income if the Kerrs use the standard deduction and their AGI is $365,880

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