Olive and Marvin file a joint income tax return for 2011.For 2011,they have adjusted gross income of $135,000 and itemized deductions of $37,000.What is the amount of itemized deductions that Olive and Marvin may deduct on their 2011 income tax return?

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Quizplus · Accepted Answer

Olive and Marvin can deduct the full amount of their itemized deductions, which is $37,000, as there is no limitation on itemized deductions for their income level in 2011.

Olive and Marvin File a Joint Income Tax Return for 2011.For