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Mitch, who is single

Mitch, who is single

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Mitch, who is single and age 46 and has no dependents, had AGI of $150,000 this year. He compiled the following list of items that could be included on his Schedule A for the year. Medical expenses (BEFORE AGI floor) $15,000 State income taxes 11,000 Real estate taxes 17,000 Mortgage interest (acquisition of primary residence) 13,000 Charitable contributions 4,000 Casualty loss deduction after limitations 4,300 What is the amount of Mitch's AMT adjustment for itemized deductions for 2023? $_
Transcribed Image Text:Mitch, who is single and age 46 and has no dependents, had AGI of $150,000 this year. He compiled the following list of items that could be included on his Schedule A for the year. Medical expenses (BEFORE AGI floor) $15,000 State income taxes 11,000 Real estate taxes 17,000 Mortgage interest (acquisition of primary residence) 13,000 Charitable contributions 4,000 Casualty loss deduction after limitations 4,300 What is the amount of Mitch's AMT adjustment for itemized deductions for 2023? $_
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