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Calculate Jack deductions for AGI

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Reference no: EM132700552

Question - Jack, a single individual with a salary of $100,000, incurred and paid the following expenses during 2019:

Medical expenses $5,000

Alimony (divorce finalized in 2019) 24,000

Charitable contributions 2,000

Federal disaster casuality loss 3,000

Mortgage interest on personal residence 4,500

Property taxes on personal residence 4,200

Moving expenses 2,500

Contribution to a traditional IRA 3,000

Sales taxes (no state or local income tax is imposed) 1,300

Student loan interest 2,000

Required -

A. Calculate Jack's deductions for AGI.

B. Calculate The Taxable Income.

Reference no: EM132700552

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