Paul, a Calendar Year Married Taxpayer, Files a Joint Return

question 6

Short Answer

Paul, a calendar year married taxpayer, files a joint return for 2014. Information for 2014 includes the following:
$\begin{array}{lr}\text { AGI } & \$ 175,000 \\\text { State income taxes } & 13,500 \\\text { State sales tax } & 3,000 \\\text { Real estate taxes } & 18,900 \\\text { Gambling losses (gambling gains were } \$ 12,000 \text { ) } & 6,800\end{array}$

$\text { Paul's allowable itemized deductions for } 2014 \text { are: }$

A) $\$ 13,500$ .
B) $\$ 32,400$ .
C) $\$ 39,200$ .
D) $\$ 42,200$ .
E) None of the ahove

• A)\( \$ 13,500 \).
• B)\( \$ 32,400 \).
• C)\( \$ 39,200 \).
• D) \( \$ 42,200 \).
• E) None of the ahove

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Definitions:

Body Mass Index

A numerical value derived from a person's weight and height, used to indicate if a person is underweight, normal weight, overweight, or obese.

Diagnosed With Depression

The medical identification of depression, a mental health disorder characterized by persistent feelings of sadness, loss, or anger.

Retirement Pension

is a financial arrangement providing individuals with an income when they have concluded their working or professional careers.

Retirement Age

The age at which an individual is eligible to leave their active work life and begin receiving retirement benefits.