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MCS,PHD
Argosy University/ Phoniex University/
Nov-2005 - Oct-2011
Professor
Phoniex University
Oct-2001 - Nov-2016
43.  ![]()
LO.2, 3, 4, 5, 6, 7, 8 Linda, age 37, who files as a single taxpayer, had AGI  of
Â
$280,000 for 2015. She incurred the following expenses and
Â
losses during the year:
Â
Â
Â
|
Medical expenses (before the 10%-of-AGI Â limitation) |
$33,000 |
|
State and local income  taxes |
4,500 |
|
State sales tax |
1,300 |
|
Real estate taxes |
4,000 |
|
Home mortgage interest |
5,000 |
|
Automobile loan interest |
750 |
|
Credit card interest |
1,000 |
|
Charitable contributions |
7,000 |
|
Casualty loss (before 10% limitation but after $100Â Â floor) |
34,000 |
|
Unreimbursed employee expenses subject to the 2%-of-AGI limitation |
 7,600 |
Â
Â
Calculate Linda’s allowable itemized deductions for the  year
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