Jordan Johnson is single and has adjusted gross income of $50,000 in the current year. Additional information
Question:
Jordan Johnson is single and has adjusted gross income of $50,000 in the current year. Additional information is as follows:
State income taxes paid..................................................................................$2,000
Mortgage interest on her personal residence................................................9,000
Points paid on purchase of her personal residence......................................1,000
Deductible contributions to her IRA.................................................................3,000
Uninsured realized casualty loss (in a Federal disaster area).......................6,000
Tax preparation fees for her prior year income tax return..............................400
What amount may Jordan claim as itemized deductions on her current-year income tax return?
a. $12,000
b. $12,900
c. $13,300
d. $15,900
Step by Step Answer:
South-Western Federal Taxation 2019 Comprehensive
ISBN: 9781337703017
42th Edition
Authors: David M. Maloney, William A. Raabe, William H. Hoffman, James C. Young