Mr and Mrs Hunt have the following allowable itemized deductions this year.
Medical expenses $\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$ 3,200
State and local taxes $\quad$$\quad$$\quad$$\quad$$\quad$$ 7,000
Casualty loss $\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$ $ 4,000
Charitable contributions $\quad$$\quad$$\quad$ $ 3,500
Determine the effect on the amount of each deduction if the Hunts engage in a transaction generating $10,000 additional AGI this year.

Question

Mr and Mrs Hunt have the following allowable itemized deductions this year.
Medical expenses $\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$ 3,200
State and local taxes $\quad$$\quad$$\quad$$\quad$$\quad$$ 7,000
Casualty loss $\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$ $ 4,000
Charitable contributions $\quad$$\quad$$\quad$  $ 3,500
Determine the effect on the amount of each deduction if the Hunts engage in a transaction generating $10,000 additional AGI this year.

Quizplus · Accepted Answer

The Answer of Mr and Mrs Hunt have the following allowable itemized deductions this year.
Medical expenses $\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$ 3,200
State and local taxes $\quad$$\quad$$\quad$$\quad$$\quad$$ 7,000
Casualty loss $\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$ $ 4,000
Charitable contributions $\quad$$\quad$$\quad$  $ 3,500
Determine the effect on the amount of each deduction if the Hunts engage in a transaction generating $10,000 additional AGI this year.

Mr and Mrs Hunt Have the Following Allowable Itemized Deductions \quad

Mr and Mrs Hunt Have the Following Allowable Itemized Deductions $\quad$