For the entire year and plan to file a joint income tax


John and Mary Snyder, a married couple intend to file a joint tax return for the tax year 2016. They had also filed a join return in 2015. They will have AGI of $ 30,000.

Their expenses for 2016 are as

Prescription drugs.........................................................................

$     300*

Medical insurance premiums...........................................................

900

Doctor and dental bills paid ..........................................................

1,400*

Eyeglasses for Robert ...................................................................

155

Hospital and clinic bills paid ..........................................................

450*

Property taxes paid on home .........................................................

900

State income taxes paid:

 

Remaining 2015 tax liability.....................................................

125

Withheld from wages during year .............................................

1,850

State and local sales taxes paid:

 

Amount paid on new automobile ..............................................

800

Amount paid on new wide screen television ..............................

280

Personal property taxes paid..........................................................

100

Interest on home mortgage*" .......................................................

4,750

Interest paid on personal auto loan.................................................

1,100

Interest paid on credit card purchases.............................................

400

Interest paid on E.F. Hutton margin account*** ..............................

120

Cash contributions to church .........................................................

2,000

Fair market value of Hightech Corp. stock contributed to church (purchased for $1,000 three years ago)........................................

5,000

Labor union dues paid by Robert ...................................................

200

Qualifying education costs paid by Jean...........................................

300

Safe deposit box rental (for stocks and bonds) ................................

50

Fee paid accountant for preparation of 2016 state and

 

Federal tax returns .....................................................................

350

The Snyders drove their personal automobile 500 miles for medical and dental treatment and an additional 1,000 miles in connection with charitable services performed For their church. Assuming Robert and Jean are both under age 40, lived in Virginia For the entire year, and plan to file a joint income tax return, determine their total itemized deductions.

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Taxation: For the entire year and plan to file a joint income tax
Reference No:- TGS02280731

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