Essay
In calculating her 2015 taxable income,Rhonda,who is age 45,claims the following itemized deductions. Medical expenses [$6,500 - 10%($60,000)] $ 500 State income taxes 2,500 Property taxes 3,000 Home mortgage interest on principal residence 5,000 Charitable contributions 3,500 Miscellaneous itemized deductions [$2,000 - 2%($60,000)] 800 Total itemized deductions for regular income tax $15,300 Calculate Rhonda's AMT adjustment for itemized deductions.
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