es, who is single
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:1. Charles, who is single and age 61, had AGI of $400,000
during 2022. He incurred the following expenses and losses
during the year.
Medical expenses before AGI floor
State and local income taxes
Real estate taxes
Home mortgage interest
Charitable contributions
Unreimbursed employee expenses
Gambling losses (Charles had $7,400 of gambling income)
Compute Charles's total itemized deductions for the year.
$28,500
15,200
4,400
5,400
14,800
8,900
9,800
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