Colli Real Estate

itemized deductions … I need help please?

I am trying to solve this problem for my type of tax. Michael is unique to 2009 and income AGI of $ 286,850. Its potential itemized deductions before limitation for the total year $ 52,300 and includes the following components: medical costs before floor of 7.5% $ 28,000 Interest on mortgage $ 8.700 taxes Income $ 9.500 Real estate tax contributions to charity $ 3.600 $ 2.500 After all necessary adjustments are made, what is the amount of deductions details can be requested Michael? Can someone please help me? I owe $ 29,585 overall limit, but I am not sure if I had to use all the limitation or not. I would appreciate if someone can guide me through the steps … Thank you

I have $ 30,786. The only limitation in this example are the medical expenses. If you multiply the adjusted gross income of 286,850 dollars for 0075 is obtained 21,514 plants. Subtract of 28000-21514 = 6486. Thus, the amount of medical expenses that can be taken is 6486. Then add the rest of deductions and you will receive $ 30,786.00. Hope this helps.

Thrift Savings Plan Webcast

TurboTax Home & Business Federal + State + Federal efile 2009 $42.89 TURBOTAX HOME & BUSINESS WITH…

Tags:   irs mortgage interest deduction limitation · mortgage interest deduction limitationNo Comments