(a) Brian Pido is 42 years old and files his tax return as a single taxpayers. B
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Question
(a) Brian Pido is 42 years old and files his tax return as a single taxpayers. Brain AGI is 172,552 including 15,000 of taxable interest. Brain has the following itemized deductions for 2015. Compute Brian total itemized deductions and compute his schedule A.
Amount Paid tp the state with 2014 income tax return $425. Chatiable contribuations $5,000. Investment interest expense $12,000. Unreimbursed emplyoe bussiness expense (from form 2016 is $2,749. Mortage interest is $11,880. Real estate taxes $6,989. State and local income taxes withheld from wages $3,583. Unreimburshed medical $3,200.
(b) Same as in Part a expect that Brain AGI is $2,72552 instead of 172,552
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Explanation / Answer
a)
b)
Deductible dental and medical expenses $0 Deductible taxes you paid $10,997 Deductible interest you paid $11,880 Deductible charitable contributions $5,000 Total itemized deduction $27,877 Excess AGI (subject to phaseout) $0 Rate of phaseout 3% Itemized deduction lost to phaseout $0 Net itemized deduction $27,877Related Questions
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