Ellen and Rick are married with one dependent child.They have AGI of $350,000,and itemized deductions consisting of $20,000 state income taxes and $20,000 medical expenses,after applying the 10 percent of AGI limitation.
Compute the following for 2013:
a.Itemized deductions allowed after the phase-out for high-income taxpayers.
b.Exemption deductions ordinarily $3,900 x 3)after the high-income phase-out.
c.Taxable income.

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The Answer of Ellen and Rick are married with one dependent child.They have AGI of $350,000,and itemized deductions consisting of $20,000 state income taxes and $20,000 medical expenses,after applying the 10 percent of AGI limitation.
Compute the following for 2013:
a.Itemized deductions allowed after the phase-out for high-income taxpayers.
b.Exemption deductions ordinarily $3,900 x 3)after the high-income phase-out.
c.Taxable income.

Ellen and Rick Are Married with One Dependent Child