Problempedro who is a single taxpayer had agi of 328000 for, Ask an Expert

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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.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M92793992

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