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Charles, Who Is Single and Age 61, Had AGI of $400,000

Question 88

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Charles, who is single and age 61, had AGI of $400,000 during 2014. He incurred the following expenses and losses during the year.
 Medical expenses before 10%-of-AGI limitation $39,500State and local income taxes 5,200 Real estate taxes4,400 Home mortgage interest 5,400Charitable contributions 4,800 Casualty loss before 10% limitation (after $100 floor) 47,000 Unreimbursed employee expenses subject to 2%-of-AGI limitation8,900 Gambling losses (Charles had $7,400 of gambling income) 9,800 Compute Charles’s total itemized deductions for the year:\begin{array}{llr} \text { Medical expenses before 10\%-of-AGI limitation } &\$39,500\\ \text {State and local income taxes } &5,200\\ \text { Real estate taxes} &4,400\\ \text { Home mortgage interest } &5,400\\ \text {Charitable contributions } &4,800\\ \text { Casualty loss before \( 10 \% \) limitation (after \( \$ 100 \) floor) } &47,000\\ \text { Unreimbursed employee expenses subject to \( 2 \% \)-of-AGI limitation} &8,900\\ \text { Gambling losses (Charles had \( \$ 7,400 \) of gambling income) } &9,800\\ \text { Compute Charles's total itemized deductions for the year:} &\\\end{array}

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