Essay
In calculating her 2016 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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Rhonda's allowed itemized deductions for...View Answer
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