Colin (Age 40) Is Single and Itemizes His Deductions

question 69

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 2018: 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
What is Colin's deduction for taxes?

• A) $8,700
• B) $7,500
• C) $5,400
• D) $2,100

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Definitions:

Pharyngeal Tonsils

Two masses of lymphatic tissue located above the palatine tonsils; also called adenoids.

Nasopharynx

The portion of the pharynx behind the nasal cavity.

Palatine Tonsils

Two masses of lymphatic tissue located at the back of the throat.

Digestive System

The system of organs responsible for breaking down food, absorbing nutrients, and eliminating waste from the body.