Asked by Moo
Joseph’s standard deduction filing single is $6,350 for 2017. However, he paid $6,200 in mortgage interest and contributed $1,100 to charity.
What is the total of Joseph's itemized deductions?
The answer I got was 1,250.
What is the total of Joseph's itemized deductions?
The answer I got was 1,250.
Answers
Answered by
oobleck
I believe that you can take the standard deduction OR itemize.
So the total itemized deductions are 6200+1100 = 7300
even if you are supposed to subtract the standard from the itemized, that would be 7300-6350 = 950, not 1250.
Of course, I could be wrong. How did you get 1250?
So the total itemized deductions are 6200+1100 = 7300
even if you are supposed to subtract the standard from the itemized, that would be 7300-6350 = 950, not 1250.
Of course, I could be wrong. How did you get 1250?
Answered by
Moo
So what I did was 6,350-6200+1100
Answered by
Moo
But you were correct the total itemized deductions was 7300.
There are no AI answers yet. The ability to request AI answers is coming soon!
Submit Your Answer
We prioritize human answers over AI answers.
If you are human, and you can answer this question, please submit your answer.