Wednesday, December 9, 2015
Tracy is single and had an adjusted gross income of $ 37,000 in 2012?
Tracy also has the following items:
Unreimbursed medical expenses… $ 3,000
State income tax… … 1,850
Interest expense (first mortgage)… 3,040
Interest expense ( second mortgage)… 1,200
Real estate tax… 700
Interest expenseâ≠car loan… 550
Interest expenseâ≠credit card… 125
Gifts to charity… 300
How much may Tracy claim as itemized deductions?
i got the answer for number for 14 which is 7315, but i dont have the answer for number 15 which is
using the following information in the problem 14, if Tracey standard deduction is 5950 and her exemption is 3800 what is her taxable income?
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