Problemmarry and max had adjusted gross income of 358000, Ask an Expert

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Marry and Max had adjusted gross income of 358000. They have itemized deductions of $20,000 consisting of $8,000 in medical expenses that exceed 10% of adjusted gross income ,$3,000 in property taxes, $4000 in housing interest, and $5000 in miscellaneous itemized deductions that exceed 2% of adjusted gross income.

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Question: What is the amount of their itemized deductions?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M91163881

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