Arnold and Beth file a joint return. Use the following data to calculate their deduction for AGI.
$\begin{array}{llr}
\text {Mortgage interest on personal residence } &\$6,000\
\text { Property taxes on personal residence} &2,500\
\text { Alimony payments } &12,000\
\text { Moving expenses } &7,000\
\text {Charitable contributions } &1,500\
\text { State income taxes } &5,000\
\text { Investment interest ( $ \$ 8,000 $ of expenses limited to net } &\
\text { investment income of $ \$ 7,500 $ )} &7,500\
\text {Unreimbursed employee expenses } &2,500\
\text { Sales taxes } &2,600\
\end{array}$

Question

Arnold and Beth file a joint return. Use the following data to calculate their deduction for AGI.
 $\begin{array}{llr}
  \text {Mortgage interest on personal residence  } &\$6,000\
 \text {  Property taxes on personal residence} &2,500\
 \text { Alimony payments } &12,000\
 \text { Moving expenses } &7,000\
 \text {Charitable contributions  } &1,500\
 \text { State income taxes } &5,000\
  \text { Investment interest ( $ \$ 8,000 $ of expenses limited to net  } &\
 \text {  investment income of $ \$ 7,500 $ )} &7,500\
 \text {Unreimbursed employee expenses  } &2,500\
 \text { Sales taxes } &2,600\
\end{array}$

Quizplus · Accepted Answer

The Answer of Arnold and Beth file a joint return. Use the following data to calculate their deduction for AGI.
 $\begin{array}{llr}
  \text {Mortgage interest on personal residence  } &\$6,000\
 \text {  Property taxes on personal residence} &2,500\
 \text { Alimony payments } &12,000\
 \text { Moving expenses } &7,000\
 \text {Charitable contributions  } &1,500\
 \text { State income taxes } &5,000\
  \text { Investment interest ( $ \$ 8,000 $ of expenses limited to net  } &\
 \text {  investment income of $ \$ 7,500 $ )} &7,500\
 \text {Unreimbursed employee expenses  } &2,500\
 \text { Sales taxes } &2,600\
\end{array}$

Arnold and Beth File a Joint Return