Charles,who Is Single and Age 61,had AGI of $400,000 During

Essay

Charles,who is single and age 61,had AGI of $400,000 during 2015.He incurred the following expenses and losses during the year. Medical expenses before 10%-of-AGI limitation $39,500 State and local income taxes 5,200 Real estate taxes 4,400 Home mortgage interest 5,400 Charitable contributions 4,800 Casualty loss before 10% limitation (after $100 floor) 47,000 Unreimbursed employee expenses subject to 2%-of-AGI limitation 8,900 Gambling losses (Charles had $7,400 of gambling income) 9,800 Compute Charles's total itemized deductions for the year.