Accounting Help Needed

timer Asked: Feb 17th, 2016

Question description

For calendar year 2015, Stuart and Pamela Gibson file a joint return reflecting AGI of $350,000. Their itemized deductions are as follows. Note: All expenses are before any applicable limitations, unless otherwise noted.Casualty loss after $100 floor (not covered by insurance)$48,600Home mortgage interest19,000Credit card interest800Property taxes on home16,300Charitable contributions28,700State income tax18,000Tax return preparation fees1,200Round your intermediate computations to nearest whole dollar.The Gibson's total itemized deductions before any phaseout are $95600.The Gibson's total itemized deduction is $.

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