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Colin (Age 40) Is Single and Itemizes His Deductions -If Colin Failed to Itemize, What Would Be His Total

Question 33

Multiple Choice

Colin (age 40) is single and itemizes his deductions. His AGI is $100,000. Colin provided the following information about his cash expenditures for 2011:
 Interest on loan to purchase corporate securities $900 Interest on American Express card 1,200 Points to refinance his home at the end of December 2,600 Mortgage interest payments 11,800 Real estate taxes 2,100 State income taxes withheld on salary 5,400 Additional state income tax estimated payment 1,200 Contribution to Republican Party 2,000 Contribution to United Way 500\begin{array} { l r } \text { Interest on loan to purchase corporate securities } & \$ 900 \\\text { Interest on American Express card } & 1,200 \\\text { Points to refinance his home at the end of December } & 2,600 \\\text { Mortgage interest payments } & 11,800 \\\text { Real estate taxes } & 2,100 \\\text { State income taxes withheld on salary } & 5,400 \\\text { Additional state income tax estimated payment } & 1,200 \\\text { Contribution to Republican Party } & 2,000 \\\text { Contribution to United Way } & 500\end{array}
-If Colin failed to itemize, what would be his total deduction from AGI in 2011:


A) $3,700
B) $5,800
C) $8,500
D) $9,500

Correct Answer:

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