Dan's AGI is $173,702, including $15,000 ofa taxable income. He paid the following taxes during this tax year. Amount paid to the state with 2017 income tax return $425 Charitable contributions $5,000 Investment inretest expense $12,000 Mortgage interest $11,880 Real estate taxes $6,898 State income tax withholding $3,583 Calculate how much Dan can deduct for taxes as an itemized deduction this year.
Dan's AGI is $173,702, including $15,000 ofa taxable income. He paid the following taxes during this tax year. Amount paid to the state with 2017 income tax return $425 Charitable contributions $5,000 Investment inretest expense $12,000 Mortgage interest $11,880 Real estate taxes $6,898 State income tax withholding $3,583 Calculate how much Dan can deduct for taxes as an itemized deduction this year.
Chapter12: Alternative Minimum Tax
Section: Chapter Questions
Problem 41P
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Dan's AGI is $173,702, including $15,000 ofa taxable income. He paid the following taxes during this tax year.
Amount paid to the state with 2017 income tax return $425
Charitable contributions $5,000
Investment inretest expense $12,000
Mortgage interest $11,880
Real estate taxes $6,898
State income tax withholding $3,583
Calculate how much Dan can deduct for taxes as an itemized deduction this year.
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ISBN:
9780357109731
Author:
Hoffman
Publisher:
CENGAGE LEARNING - CONSIGNMENT