Tyrone, who is single and under age 65, had the following income in 2022: $59,800 in wages $200 in interest $10,000 in gambling winnings $5,000 in short-term capital gains. Tyrone filed a Schedule A, Itemized Deductions, for 2022. While preparing that schedule, Tyrone, who had no above-the-line deductions, listed the following below-the-line deduction items he had incurred during the year: $2,500 in medical expenses $9,000 of mortgage interest paid on a mortgage of $300,000 $4,000 in real estate taxes $2,600 in state taxes $12,000 in gambling losses $3,400 in unreimbursed employee business expenses. What is the total amount of Schedule A itemized deductions that Tyrone can report in 2022?
Tyrone, who is single and under age 65, had the following income in 2022: $59,800 in wages $200 in interest $10,000 in gambling winnings $5,000 in short-term capital gains. Tyrone filed a Schedule A, Itemized Deductions, for 2022. While preparing that schedule, Tyrone, who had no above-the-line deductions, listed the following below-the-line deduction items he had incurred during the year: $2,500 in medical expenses $9,000 of mortgage interest paid on a mortgage of $300,000 $4,000 in real estate taxes $2,600 in state taxes $12,000 in gambling losses $3,400 in unreimbursed employee business expenses. What is the total amount of Schedule A itemized deductions that Tyrone can report in 2022?
Chapter10: Deduct Ions And Losses: Certain Itemized Deduct Ions
Section: Chapter Questions
Problem 38P
Related questions
Question
Tyrone, who is single and under age 65, had the following income in 2022:
- $59,800 in wages
- $200 in interest
- $10,000 in gambling winnings
- $5,000 in short-term
capital gains.
Tyrone filed a Schedule A, Itemized Deductions, for 2022. While preparing that schedule, Tyrone, who had no above-the-line deductions, listed the following below-the-line deduction items he had incurred during the year:
- $2,500 in medical expenses
- $9,000 of mortgage interest paid on a mortgage of $300,000
- $4,000 in real estate taxes
- $2,600 in state taxes
- $12,000 in gambling losses
- $3,400 in unreimbursed employee business expenses.
What is the total amount of Schedule A itemized deductions that Tyrone can report in 2022?
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