Paul, a Calendar Year Single Taxpayer, Has the Following Information

question 96

Multiple Choice

Paul, a calendar year single taxpayer, has the following information for 2019: $$\begin{array} { l r } \text { AGI } & \$ 175,000 \\\text { State income taxes } & 13,500 \\\text { State sales tax } & 3,000 \\\text { Real estate taxes } & 18,900 \\\text { Gambling losses (gambling gains were } \$ 12,000 \text { ) } & 6,800\end{array}$$ Paul's allowable itemized deductions for 2019 are:

• A)$10,000.
• B)$16,800.
• C)$39,200.
• D)$42,200.
• E)None of these.

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Definitions:

DZ Twins

Dizygotic twins, also known as non-identical twins, who are born from two separate eggs fertilized by two different sperm.

Environment Share

The portion of environment that contributes to the similarities in upbringing and experiences among individuals living in the same household.

Nonadditive Effects

Phenomena in genetics where the effect of inheriting a specific allele combination is not simply the sum of the individuals' parts, often seen in polygenic traits.

Identical Twins

Twins who originate from the same fertilized egg and share the same genetic material.