Vera and Jake (both age 45)are a married couple with AGI of $325,900 for 2015.Theypaid $20,000 of mortgage interest,$8,000 of unreimbursed medical expenses,$4,000 of property taxes,and $9,000 of charitable contributions for the year.How much may they claim for itemized deductions in 2015?

Question

Quizplus · Accepted Answer

($325,900 - $309,900)x .03 = $480.$20,000 + $4,000 + $9,000 - $480 = $32,520.(Medical expenses do not exceed 10 percent of AGI.)

Vera and Jake (Both Age 45)are a Married Couple with AGI