What is the amount of itemized deductions Evan may claim

Assignment Help Accounting Basics
Reference no: EM132668271

Problem - Evan is single and has AGI of $277,300 in 2019. His potential itemized deductions before any limitations for the year total $52,300 and consist of the following:

Medical expenses (before the AGI limitation) $29,000

Interest on home mortgage 8,700

State income taxes 9,500

Real estate taxes 3,600

Charitable contributions 2,500

After all necessary adjustments are made, what is the amount of itemized deductions Evan may claim?

Reference no: EM132668271

Questions Cloud

Describe potential ethical dilemmas present or potentially : Explain the steps you should take to be intentional and proactive in your ethical approach. Describe potential ethical dilemmas present or potentially present
Sources of income and Nature of expenditures : Sources of income; amounts/percent derived from different sources of income; revenue in dollars and/or percent compared to previous years;
Calculate Linda allowable itemized deductions for the year : Linda, who files as a single taxpayer, had AGI of $280,000 for 2019. Calculate Linda allowable itemized deductions for the year
Sport and religion may seem entirely unrelated : At first glance, sport and religion may seem entirely unrelated. But throughout history, people have often linked two and blended them into their belief system
What is the amount of itemized deductions Evan may claim : Medical expenses (before the AGI limitation) $29,000. After all necessary adjustments are made, what is the amount of itemized deductions Evan may claim
What is the asset beta of the firm : The company has an equity beta of 0.8 and a debt beta of 0.15. What is the asset beta of the firm?
What is your role as an advocate for your target population : Review the Resources and reflect on your thinking regarding the role of the nurse in the design and implementation of new healthcare programs.
What socio-economic and cultural factors play into tracking : Do you think all students should be exposed to the same curriculum and teaching methods regardless of ability? What socio-economic and cultural factors play
Evaluate the four alternatives : Evaluate the four alternatives, and write a letter to Eleanor to communicate your advice to her. Her address is 2622 Bayshore Drive, Berkeley, CA 94709

Reviews

Write a Review

Accounting Basics Questions & Answers

  How would anteium record the reorganization

Anteium Company owes $82,500 on a note payable that is currently due. How would Anteium record the reorganization

  Determine the amounts of the components of pension expense

Prepare the journal entry or entries to record pension expense and the employer's contribution to the pension trustee in 2010.

  Kelm company purchased a new machine on october 1 2010 at

kelm company purchased a new machine on october 1 2010 at a cost of 120000.the company estimated that the machine will

  Determine the amount of accrued interest

Determine the amount of accrued interest that was included in the proceeds received from the bond sale. (Show calculations)

  Statement concerning the income statement

Discuss and identify how the four basic financial statements are important, and how they are interrelated with each other, and why they are useful to managers, investors, creditors, and employees.It has to be 700-1050 words.

  Calculate the dollar amount of each type of service

Calculate the dollar amount of each type of service that the company must provide in order to break even

  Cascade company had a net deferred tax liability

Indicate the manner in which deferred taxes should be presented on Cascade Company's December 31, 2010, balance sheet.

  Compute the amounts that pepper enterprises should report

Compute the amounts that Pepper Enterprises should report in its December 31, 2018 consolidated financial statements for fair value analysis

  Calculate martin annualized hpr on the trade

Martin Schmidt bought 100 shares of a German stock through his broker. He bought the stock in March for €35 (Euro) per share and sold it three months later.

  The corporation elects to record monthly property tax

The Rosen Corporation was formed on December 12, 2009.

  Prepare the journal entries to record the purchase of clay

Prepare the journal entries to record the purchase of clay on November 4 and the receipt of clay to the mixing department on November 6.

  What is the total cash flow at the start of the project

Pepega Investments is evaluating a proposal to build a new warehouse. What is the total cash flow at the start of the project

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd