Solution-Calculate their deduction for adjusted gross income

Calculate their deduction for adjusted gross income

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Reference no: EM13341812

Arnold and Beth file a joint return. Use the following data to calculate their deduction for Adjusted Gross Income.

Mortgage interest on personal residence	$ 4,000
Property taxes on personal residence	2,000
Alimony payments	12,000
Moving expenses	6,000
Charitable contributions	1,500
State income taxes	5,000
Investment interest ($8,000 of expenses limited to net investment income of $6,000)	6,000
Unreimbursed employee expenses	2,500
Sales taxes	2,600

Answer

	A.	19,500
	B.	20,600
	C.	18,000
	D.	41,600

Reference no: EM13341812

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Calculate their deduction for adjusted gross income

Reference no: EM13341812

Reference no: EM13341812

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