Michelle, a single individual, reports 2017 adjusted gross income of $280,000 and has the following itemized deductions before applicable limitations a What are Michelles itemized deductions for regular tax purposes b What are Michelles itemized deductions for AMT purposes Medical expenses $14,000 ...

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Michelle, a single individual, reports 2017 adjusted gross income of $280,000 and has the following itemized deductions

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Michelle, a single individual, reports 2017 adjusted gross income of $280,000 and has the following itemized deductions before applicable limitations:

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a. What are Michelle’s itemized deductions for regular tax purposes?

b. What are Michelle’s itemized deductions for AMT purposes?

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Taxation For Decision Makers 2018

ISBN: 9781119373735

8th Edition

Authors: Shirley Dennis Escoffier, Karen Fortin

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Question Posted: Mar 15, 2024 03:02 AM

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Michelle, a single individual, reports 2017 adjusted gross income of $280,000 and has the following itemized deductions

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Medical expenses $14,000 Interest on home acquisition mortgage with a principal amount of $650,000 25,000 Interest on home equity loan with a principal amount of $95,000 Taxes Charitable contributions Miscellaneous itemized deductions 6,000 18,000 7,000 8,800

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Taxation For Decision Makers 2018

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