Mitch,who Is Single and Age 66 and Has No Dependents,had

question 66

Multiple Choice

Mitch,who is single and age 66 and has no dependents,had AGI of $100,000 in 2016.His potential itemized deductions were as follows.
​
Medical expenses (before percentage limitation)
$15,000
State income taxes
3,000
Real estate taxes
7,000
Mortgage (qualified housing and residence) interest
9,000
Cash contributions to various charities
4,000
Unreimbursed employee expenses (before percentage limitation)
4,300
​
What is the amount of Mitch's AMT adjustment for itemized deductions for 2016?

• A)$14,800
• B)$16,800
• C)$19,300
• D)$25,800

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Definitions:

Buyer

An individual or entity that purchases goods or services from another in a commercial transaction.

Allocation Of Risk

The process of defining and assigning the financial or operational responsibilities associated with potential risks in contractual agreements.

Parties

Individuals, groups, or entities that enter into a legal agreement or are involved in a legal proceeding.

Agreement

A mutual understanding or arrangement between two or more parties about their relative rights and responsibilities.