Tax return

by | Aug 25, 2021 | Assignment Help

Issac has AGI of $102,600 and incurred the following expenses: • Cost of uniforms required by his employer: $1,100 • Tax return preparation fees: $1,650 • Fee paid for a safe deposit box used to store papers and documents relating to taxable income-producing investments: $110 • Job-hunting costs: $3,300Issac’s deductible miscellaneous itemized deductions (after any limitation) on Schedule A is $.____________The amount each can contribute to a Roth IRA.$_______ (it is not $5500).Pedro, who is a single taxpayer, had AGI of $375,200 for 2017. He incurred the following expenses during the year:Medical expenses before 10%-of-AGI limitation $19,700State and local income taxes $11,256Real estate taxes $2,251Home mortgage interest $18,760Charitable contributions $4,502Deductible investment interest expense $1,688Compute the amount of Pedro’s itemized deductions after any applicable reductions and/or limitations. Round your computations to the nearest dollar and use rounded amounts in subsequent calculations.$___________________

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