Charles, Who Is Single and Age 61, Had AGI of $400,000

question 91

Essay

Charles, who is single and age 61, had AGI of $400,000 during 2017.He incurred the following expenses and losses during the year. $\begin{array}{lr}\text { Medical expenses before 10\%-of-AGI floor } & \$ 39,500 \\\text { State and local income taxes } & 5,200 \\\text { Real estate taxes } & 4,400 \\\text { Home mortgage interest } & 5,400 \\\text { Charitable contributions } & 4,800\\\text { Casualty loss before } 10 \% \text { limitation (after } \$ 100 \text { floor) } & 47,000 \\\text { Unreimburs ed employee expenses subj ect to } 2 \% \text {-o f-AG I limitation } & 8,900 \\\text { Gambling losses (Charles had } \$ 7,400 \text { of gambling income) } & 9,800\end{array}$ Compute Charles's total itemized deductions for the year.

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