FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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In 2020 a married couple filing jointly has AGI of $100,000. The following information
applies to them.
• Real estate taxes of $4,000
• Mortgage interest of $12,000
• Automobile loan interest of $3,000
. State income taxes of $6,000
..Credit card interest of $2,000
What are their total itemized deductions?
Select one:
O a.
$31,000
O b. $24,000
Oc. $22,000
O d. $18,000*
Clear my choice
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Transcribed Image Text:In 2020 a married couple filing jointly has AGI of $100,000. The following information applies to them. • Real estate taxes of $4,000 • Mortgage interest of $12,000 • Automobile loan interest of $3,000 . State income taxes of $6,000 ..Credit card interest of $2,000 What are their total itemized deductions? Select one: O a. $31,000 O b. $24,000 Oc. $22,000 O d. $18,000* Clear my choice
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