During the current tax year, Doug incurs the following deductible expenses:
State Income Tax $2,300
Local Property Tax $3,000
Medical Expenses $ 800
Charitable Contributions $2,000
Doug is 33, single with no dependents. His has $35,000 AGI for the year.
What is the amount of Doug's taxable income.
| AGI |
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| Less itemized deductions: |
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Medical: |
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$ |
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Less: 10% of AGI |
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Deductible medical expenses |
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$ - |
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State income taxes |
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Local property taxes |
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Charitable contributions |
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Total itemized deductions |
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Compare to standard deduction |
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| Deduction (itemized > standard) |
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| Personal exemption |
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| Taxable income |
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$ - |