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Calculate arnold and beth''s deductions for agi

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Assignment

Arnold and Beth file a joint return and have the following information for 2016:

Mortgage interest on personal residence $ 6,000

Property taxes on personal residence 2,500

Alimony payments 12,000

Moving expenses 7,000

Unreimbursed medical expenses 14,000

Charitable contributions 1,500

2015 state income tax refund (they itemized in 2015) 2,000

State income taxes 5,000

Investment interest ($8,000 of expenses limited to net investment income of $7,500) 7,500

Unreimbursed employee expenses 2,500

Wage income 118,000

Sales taxes paid 2,600

(a) Calculate Arnold and Beth's deductions for AGI.

(b) Calculate Arnold and Beth's deductions from AGI.

Reference no: EM131793645

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