question archive Pedro, who is a single taxpayer, had AGI of $328,000 for 2016
Pedro, who is a single taxpayer, had AGI of $328,000 for 2016
Subject:AccountingPrice: Bought3
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.
