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George is single and age 56, has AGI of$ 265,000, and incurs the following expenditures In...

George is single and age 56, has AGI of$ 265,000, and incurs the following expenditures In 2019 (not 2020).

Medical expenses (before 10%-of-AGI floor)

$35,000

Interest on home mortgage

15,500

State income tax

7,500

State sales tax

4,500j

Real estate tax

8,600

Charitable contribution

6,500

What is the amount of itemized deductions George may claim?
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Answer #1

ANSWER:

compute the amount of itemized deductions Gmay claim:

PARTICULARS AMOUNT$
Medical expenses 500.00
Interest on home mortage 15,500.00
State income tax 7,500.00
Real estate tax 8,600.00
Charity contribution 6,500.00
Total 38,600.00

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