Paul, a calendar year married taxpayer, files a joint return for 2014. Information for 2014 includes the following:
$\begin{array}{lr}
\text { AGI } & \$ 175,000 \
\text { State income taxes } & 13,500 \
\text { State sales tax } & 3,000 \
\text { Real estate taxes } & 18,900 \
\text { Gambling losses (gambling gains were } \$ 12,000 \text { ) } & 6,800
\end{array}$

$\text { Paul's allowable itemized deductions for } 2014 \text { are: }$

A)$ \$ 13,500 $.
B)$ \$ 32,400 $.
C)$ \$ 39,200 $.
D) $ \$ 42,200 $.
E) None of the ahove

Question

Paul, a calendar year married taxpayer, files a joint return for 2014. Information for 2014 includes the following:
$\begin{array}{lr}
\text { AGI } & \$ 175,000 \
\text { State income taxes } & 13,500 \
\text { State sales tax } & 3,000 \
\text { Real estate taxes } & 18,900 \
\text { Gambling losses (gambling gains were } \$ 12,000 \text { ) } & 6,800
\end{array}$

$\text { Paul's allowable itemized deductions for } 2014 \text { are: }$

A)$ \$ 13,500 $.
B)$ \$ 32,400 $.
C)$ \$ 39,200 $.
D) $ \$ 42,200 $.
E) None of the ahove

Quizplus · Accepted Answer

The Answer of Paul, a calendar year married taxpayer, files a joint return for 2014. Information for 2014 includes the following:
$\begin{array}{lr}
\text { AGI } & \$ 175,000 \
\text { State income taxes } & 13,500 \
\text { State sales tax } & 3,000 \
\text { Real estate taxes } & 18,900 \
\text { Gambling losses (gambling gains were } \$ 12,000 \text { ) } & 6,800
\end{array}$

$\text { Paul's allowable itemized deductions for } 2014 \text { are: }$

A)$ \$ 13,500 $.
B)$ \$ 32,400 $.
C)$ \$ 39,200 $.
D) $ \$ 42,200 $.
E) None of the ahove

Paul, a Calendar Year Married Taxpayer, Files a Joint Return