Question

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John Smith is a single taxpayer with an AGI of 162,000. Complete Mr. Smith’s Schedule A...

John Smith is a single taxpayer with an AGI of 162,000. Complete Mr. Smith’s Schedule A given the following deductions:
1. Medical and dental expenses = 2,400
2. Real estate taxes from rental properties = 1,680
3. State income taxes withheld on W-2 = 6,700
4. Real estate taxes from personal residence = 3,550
5. Mortgage interest = 15,800
6. Investment interest = 130
7. Cash charitable contributions = 1,770
8. Noncash charitable contributions = 10,760
9. Unreimbursed employee expenses = 3,759
10. Tax preparation fees = 250
11. Subscriptions for business publications = 410
12. General sales tax = 2,500

Requirements

Clearly identify the requirements being addressed. Complete all applicable fields on the Schedule A Itemized Deductions. Submit a single pdf file for grading.

Solutions

Expert Solution

Real estate taxes on rental properties are not itemized deductions, they are allowed on schedule E. General sales tax is not taken as deduction instead state income taxes are deducted.

ekkarill92 answered 2 years ago
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