Allison,who Is Single,incurred $4,000 for Unreimbursed Employee Expenses,$10,000 for Mortgage

question 147

Multiple Choice

Allison,who is single,incurred $4,000 for unreimbursed employee expenses,$10,000 for mortgage interest and real estate taxes on her home,and $500 for investment counseling fees.Allison's AGI is $80,000.Allison's allowable deductions from AGI are (after limitations have been applied)

• A)$10,500.
• B)$12,900.
• C)$14,000.
• D)$14,500.

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Definitions:

Period Of Time

A specific duration marked by a start and end date or time.

Income Statement

A financial statement that shows a company's revenues, expenses, and profit or loss over a specific period of time.

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A particular day specified for a certain event, transaction, or deadline.