Determine which ones are deductible for agi


Amos, a single individual with a salary of $50,000, incurred and paid the following expenses during the year.

Medical expenses: $5,000
Alimony: $14,000
Casualty loss (after $100 floor): $1,000
State income taxes: $4,000
Moving expenses: $1,500
Contribution to a traditional IRA: $2,000
Student loan interest: $1,200

Analyze the above expenses and determine which ones are deductible for AGI. Please support your position.

Request for Solution File

Ask an Expert for Answer!!
Accounting Basics: Determine which ones are deductible for agi
Reference No:- TGS059654

Expected delivery within 24 Hours