What is the amount of itemized deductions


John and Sue are married and filed jointly in 2011. AGI=$172000 They have the following deductible expenses after consideration of the 7.5% floor on medical expenses and the $100 per loss and 10% floor for casualty losses. Medical = $750 Casualty Loss = 900 Residence Interest = 20,000 Charitable Contributions = 11,000 State income taxes = 20,000 What is the amount of itemized deductions they may claim on their return?

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Accounting Basics: What is the amount of itemized deductions
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