Pedro, who is a single taxpayer, had AGI of $341,600 for 2015. He incurred the f
ID: 2448753 • Letter: P
Question
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.
Explanation / Answer
Pedro, who is a single taxpayer, had AGI of $341,600 for 2015. He incurred the f
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