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Evan is single and has AGI of $277,300 in 2019. His potential itemized deductions before any...

Evan is single and has AGI of $277,300 in 2019. His potential itemized deductions before any limitations for the year total $52,300 and consist of the following:

Medical expenses (before the AGI limitation) $29,000
Interest on home mortgage 8,700
State income taxes 9,500
Real estate taxes 3,600
Charitable contributions 2,500

After all necessary adjustments are made, what is the amount of itemized deductions Evan may claim? If required, round the medical deduction to the nearest dollar and use the rounded amount in subsequent computations.

Evan's total itemized deduction is $

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Answer #1
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Solution:
Computation of itemized deduction that Evan may claim:
Medical expenses ($29,000-$2,77,300*7.5%) $         8,203
Interest on home mortagage $         8,700
State income taxes Capped @ $10,000 $       10,000
Charitable contributions $         2,500
Evan's total itemized deduction is $       29,403
Therefor, Evan's total itemized deduction is $29,403
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