Colin (Age 40)is Single and Itemizes His Deductions

question 79

Multiple Choice

Colin (age 40) is single and itemizes his deductions.His AGI is $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 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
How much are Colin's deductible contributions?

• A)$500
• B)$1,000
• C)$1,500
• D)$2,500

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Definitions:

Positive Communication

The practice of conveying messages in a constructive, encouraging, and supportive manner to foster good relationships and effective interactions.

Negative Communication

Interactions that convey criticism, contempt, defensiveness, or stonewalling, often leading to relationship deterioration.

Generalize

To make broad statements or conclusions that extend beyond the original data or observations, applying them to larger groups or situations.

Carrying The Bride

is a traditional act involving a groom physically lifting and carrying his bride, often across the threshold of their new home, symbolizing the start of their new life together.