Darin's,who Is Age 30,has Itemized Deductions in Calculating 2015 Taxable

question 89

Essay

Darin's,who is age 30,has itemized deductions in calculating 2015 taxable income as follows. Medical expenses [$15,000 - 10%($100,000)] $ 5,000 Mortgage interest on personal residence 7,000 State income taxes 4,000 Real property taxes 4,500 Personal property taxes 2,500 Casualty loss [$14,000 (after $100 floor) - (10% × $100,000)] 4,000 Charitable contributions 3,500 Gambling losses ($3,200 limited to gambling income of $1,000) 1,000 Miscellaneous itemized deductions [$2,500 - 2%($100,000)] 500 Itemized deductions $32,000 ​
a.​
Calculate Darin's itemized deductions for AMT purposes using the direct method.
b.Calculate Darin's itemized deductions for AMT purposes using the indirect method.

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Definitions:

Gramsci's Analysis

Refers to the work of Italian Marxist theorist Antonio Gramsci, particularly his theories on cultural hegemony and the role of intellectuals in society.

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An economic model where capital goods are owned by individuals or corporations, with investments made based on personal choices, and where the pricing, creation, and distribution of products are primarily influenced by competitive forces in an unregulated market.

Ideological Control

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