Business, 25.06.2021 01:10 Kjkaiman9034

Same facts as previous question. Ian and Isabella paid the following expenses in 2020: Federal income taxes withheld on wages: $9,000 State & local income taxes: $8,000 Property taxes on principal residence: $5,000 Sales tax: $1,000 Interest on credit card used for personal travel: $4,500 Interest on $350,000 mortgage used to purchase principal residence: $2,000 Interest on $20,000 home-equity loan used to improve their principal residence: $1,000 Deductible student loan interest: $2,000 Deductible medical expenses (this is the amount after the % of AGI floor has been applied): $1,000 Unreimbursed employee business expenses (job supplies): $750 Ian and Isabella's home is worth $550,000. They have proper records to substantiate all expenses. What is Ian and Isabella's AGI?

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Same facts as previous question. Ian and Isabella paid the following expenses in 2020: Federal incom...

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