Vera and Jake (Both Age 45) Are a Married Couple

question 45

Multiple Choice

Vera and Jake (both age 45) are a married couple with AGI of $327,300 for 2019.They paid $20,000 of mortgage interest, $8,000 of unreimbursed medical expenses, $4,000 of property taxes, and $9,000 of charitable contributions for the year.How much may they claim for itemized deductions in 2019?

• A)$40,220
• B)$33,000
• C)$32,520
• D)$25,000

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Definitions:

Exponential

Pertaining to a mathematical function or increase that grows more significant or at an increasingly rapid rate relative to its current value.

Standard Deviations

A way of evaluating the extent of dispersion or deviation in a group of values.

Normal Distribution

A probability distribution that is symmetric around its mean, showing that data near the mean are more frequent in occurrence than data far from the mean.

Statistical Inference

The process of drawing conclusions about population parameters based on a sample taken from the population.