Jerry is single, age 60, and had adjusted gross income of $120,000 in 2020. His deductible expenses were as follows: Alimony(divorce finalized in 2017) $20,000 Charitable contributions 4,000 Contribution to a traditional IRA 5,500 State income taxes paid 7,000 Interest on home mortgage 6,200 Property taxes Paid 5,000 Medical expenses 3,000 What is Jerry's total allowable itemized deductions in 2020?

Jerry is single, age 60, and had adjusted gross income of $120,000 in 2020. His deductible expenses were as follows: Alimony(divorce finalized in 2017) $20,000 Charitable contributions 4,000 Contribution to a traditional IRA 5,500 State income taxes paid 7,000 Interest on home mortgage 6,200 Property taxes Paid 5,000 Medical expenses 3,000 What is Jerry's total allowable itemized deductions in 2020?

SWFT Comprehensive Volume 2019

42nd Edition

ISBN:9780357233306

Author:Maloney

Publisher:Maloney

Chapter6: Deductions And Losses: In General

Section: Chapter Questions

Problem 50P

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