Lee incurred the following expenses in the current tax year. In the spaces provi
ID: 2901077 • Letter: L
Question
Lee incurred the following expenses in the current tax year. In the spaces provided, indicate whether each expenditure is deductible for AGI, from AGI, or not deductible.
a. Lee's personal medical expense
b. Lee's dependent daughter's medical expenses
c. Real estate taxes on Lee's rental property
d. Real estate taxes on Lee's personal residence
e. Real estate taxes on daughter's personal residence
f. Lee's state income taxes
g. Intereston Lee's personal property mortgage
h. interest on Lee' personal residence mortgage
i. Interest on daughter's personal residence mortgage
j. Interest on Lee's business loans
k. Lee's charitable contributions
l. Depreciation on Lee's rental property
m. Depreciation on auto used in Lee's business
n. Depreciation on Lee's personal use auto
o. Depreciation on daughter's personal use auto
Explanation / Answer
a. Lee's personal medical expense deductible from agi b. Lee's dependent daughter's medical expenses deductible from agi c. Real estate taxes on Lee's rental property deductible for agi d. Real estate taxes on Lee's personal residence not deductible e. Real estate taxes on daughter's personal residence not deductible f. Lee's state income taxes not deductible g. Intereston Lee's personal property mortgage deductible from agi h. interest on Lee' personal residence mortgage deductible from agi i. Interest on daughter's personal residence mortgage not deductible j. Interest on Lee's business loans deductible for agi k. Lee's charitable contributions deductible from agi l. Depreciation on Lee's rental property deductible for agi m. Depreciation on auto used in Lee's business deductible for agi n. Depreciation on Lee's personal use auto not deductible o. Depreciation on daughter's personal use auto not deductible
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