Pedro, who is a single taxpayer, had AGI of $341,600 for 2015. He incurred the f

Q: Pedro, who is a single taxpayer, had AGI of $341,600 for 2015. He incurred the f

Answer : Computation of Taxable Income Particulars Amount Amount AGI 341600 Less: Personal Exemption Amount 4000 Medical Expenses (excess of 10% Of AGI) 0 State, Local & Foreign Taxes 12298 Home Mortgage Interest 17080 Charitable Contribution 4099 Investment Interest Expenses 1537 39014 Taxable Income 302586

ID: 2448429 • Letter: P

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Pedro, who is a single taxpayer, had AGI of $341,600 for 2015. He incurred the following expenses during the year: Medical expenses before 10%-of-AGI limitation $12,740 State and local income taxes $10,248 Real estate taxes $2,050 Home mortgage interest $17,080 Charitable contributions $4,099 Deductible investment interest expense $1,537 Compute the amount of Pedro's itemized deductions after any applicable reductions. Round your computations to the nearest dollar and use rounded amounts in subsequent calculations.

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Answer : Computation of Taxable Income

Particulars Amount Amount AGI 341600 Less: Personal Exemption Amount 4000 Medical Expenses (excess of 10% Of AGI) 0 State, Local & Foreign Taxes 12298 Home Mortgage Interest 17080 Charitable Contribution 4099 Investment Interest Expenses 1537 39014 Taxable Income 302586

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Pedro, who is a single taxpayer, had AGI of $328,000 for 2018. He incurred the f

Pedro, who is a single taxpayer, had AGI of $341,600 for 2015. He incurred the f

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Pedro, who is a single taxpayer, had AGI of $341,600 for 2015. He incurred the f

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