Business, 27.12.2019 02:31 yungmoney30

Ed is single with no dependents. he has receipts for the expenses listed below that he paid in 2019. his agi is $60,000. what are his total itemized deductions for 2019? • $8,000 in unreimbursed medical expenses • $5,400 in state and local income taxes • $6,000 in real estate taxes • $400 in ad valorem personal property taxes • $4,300 in mortgage interest • $1,800 in interest from a home equity loan used to pay credit card debt • $2,000 in charitable contributions • $600 in dues to professional organizations • $180 for a safe deposit box rental • $200 for subscriptions to professional journals • $225 in tax preparation fees • $1,000 in union dues a. $16,300 b. $18,300 c. $20,100 d. $21,105

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Answer from: ginapogones4958

B. $18,300

Explanation:

Particulars Amount (in $)

Deduction for unreimbursed medical expeses 2,000

State and local taxes 10,000

Mortgage interest 4,300

Credit card debt -

Charitable contributions 2,000

Professional organizations -

Safe & deposit box rental -

Subscriptions -

Tax preparation fees -

Union dues -

18,300

AGI 60000

10% of AGI 6000

unreimbursed medical expeses 8000

Deduction for unreimbursed medical expeses 2000

Working Note 2

State and local taxes 5400

Real estate taxes 6000

Personal property taxes 400

Total 11800

Limited to 10000

Therefore, The answer is $18,300

Answer from: Quest

i think you have to let the moderators that you want your old account to be activated.

Answer from: Quest

i'ts proportional. if the inflation rate is 12% for example, the cpi will be 12% less.

hope it ,

bioteacher101

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Ed is single with no dependents. he has receipts for the expenses listed below that he paid in 2019....

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