Linda, who is a head of household with one dependent, had AGI of $150,000 for 2012. She incurred the following expenses and losses during the year:
|
Medical expenses before the 7.5% of AGI limitation |
$20,000 |
|
State and local income taxes |
4,500 |
|
State sales tax |
1,300 |
|
Real estate taxes |
4,000 |
|
Home mortgage interest |
4,500 |
|
Credit card interest |
1,000 |
|
Charitable contributions |
5,000 |
|
Casualty loss before 10% limitation (after $100 floor) |
20,000 |
|
Unreimbursed employee expenses subject to the 2% of AGI limitation |
5,000 |
Calculate Linda’s allowable itemized deductions for the year.