Colin (Single and Age 40)has AGI of $100,000

question 29

Multiple Choice

Colin (single and age 40) has AGI of $100,000.Colin provided the following information about his cash expenditures for 2015: Interest on loan to purchase corporate securities $ 900
Interest on American Express card 1,200
Points to refinance his home for 10 years at the end of December 2,600
Mortgage interest payments 11,800
Real estate taxes 2,100
State income taxes withheld on salary 5,400
Additional state income tax estimated payment 1,200
Contribution to Republican Party 2,000
Contribution to United Way 500
If Colin does not itemize,what is his total deduction from AGI in 2015:

• A)$4,000
• B)$6,300
• C)$10,000
• D)$10,300

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Definitions:

Sfc

Stands for System File Checker, a utility in Microsoft Windows that allows users to scan for and restore corruptions in Windows system files.

DLP

Data Loss Prevention, technologies, and strategies used to ensure that sensitive data is not lost, misused, or accessed by unauthorized users.

Firewall

A firewall is a network security system that monitors and controls incoming and outgoing network traffic based on predetermined security rules.

IPS

In-Plane Switching, a screen technology for liquid-crystal displays (LCDs) that offers better viewing angles and color reproduction than traditional LCD screens.