In calculating her 2016 taxable income,Rhonda,who is age 45,claims the following itemized deductions.
Medical expenses [$6,500 - 10%($60,000)]
$ 500
State income taxes
2,500
Property taxes
3,000
Home mortgage interest on principal residence
5,000
Charitable contributions
3,500
Miscellaneous itemized deductions [$2,000 - 2%($60,000)]
800
Total itemized deductions for regular income tax
$15,300

Calculate Rhonda's AMT adjustment for itemized deductions.

Question

In calculating her 2016 taxable income,Rhonda,who is age 45,claims the following itemized deductions.
Medical expenses [$6,500 - 10%($60,000)]
$ 500
State income taxes
2,500
Property taxes
3,000
Home mortgage interest on principal residence
5,000
Charitable contributions
3,500
Miscellaneous itemized deductions [$2,000 - 2%($60,000)]
800
Total itemized deductions for regular income tax
$15,300
​
Calculate Rhonda's AMT adjustment for itemized deductions.

Quizplus · Accepted Answer

The Answer of In calculating her 2016 taxable income,Rhonda,who is age 45,claims the following itemized deductions.
Medical expenses [$6,500 - 10%($60,000)]
$ 500
State income taxes
2,500
Property taxes
3,000
Home mortgage interest on principal residence
5,000
Charitable contributions
3,500
Miscellaneous itemized deductions [$2,000 - 2%($60,000)]
800
Total itemized deductions for regular income tax
$15,300
​
Calculate Rhonda's AMT adjustment for itemized deductions.

In Calculating Her 2016 Taxable Income,Rhonda,who Is Age 45,claims the Following