George Is Single and Age 56, Has AGI of $265,000

question 22

Essay

George is single and age 56, has AGI of $265,000, and incurs the following expenditures in 2014.
$\begin{array}{lr}\text { Medical expenses (before } 10 \% \text { floor) } & \$ 27,000 \\\text { Interest on home mortgage } & 15,500 \\\text { State income tax } & 7,500 \\\text { State sales tax } & 4,500 \\\text { Real estate tax } & 8,600 \\\text { Charitable contribution } & 6,500\end{array}$
What is the amount of itemized deductions George may claim?

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Definitions:

SSRIs

Selective Serotonin Reuptake Inhibitors, a class of drugs typically used as antidepressants in the treatment of depression, anxiety disorders, and some personality disorders.

Prozac

Prozac is a brand name for fluoxetine, a selective serotonin reuptake inhibitor (SSRI) that is commonly prescribed to treat depression, anxiety disorders, and certain other psychiatric conditions by increasing serotonin levels in the brain.

Zoloft

A prescription medication primarily used to treat major depressive disorder, panic attacks, and social anxiety disorder, among other conditions.

Ativan

A prescription medication used to treat anxiety disorders, known generically as lorazepam.