Compute the amount of pedros itemized deductions

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Reference no: EM131956335

Problem

Pedro, who is a single taxpayer, had AGI of $328,000 for 2016. He incurred the following expenses during the year:

Medical expenses before 10%-of-AGI limitation $12,000

State and local income taxes $8,900

Real estate taxes $1,600

Home mortgage interest $16,000

Charitable contributions $2,200

Deductible investment interest expense $1,700

Compute the amount of Pedro's itemized deductions after any applicable reductions. Round your computations to the nearest dollar and use rounded amounts in subsequent calculations.

Reference no: EM131956335

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