Thursday, October 17, 2019

Angela is single and has no dependents. For the​ year, her salary is $61,000

Other than the % limitation placed on medical expenses, the 10% reduction for casualty losses on personal property, the 2% reduction applied to certain miscellaneous itemized deductions, and the fact that itemized deductions are only deductible if they exceed the standard deduction, are there any other limitations or reductions applied to itemized deductions for individuals?


PI:7-35
Angela is single and has no dependents. For the​ year, her salary is $61,000. She pays $500 in medical and dental insurance​ premiums, which is withheld from her paycheck on an​ after-tax basis, $3,350 in mortgage interest on her​ home, and $1,220 in interest on her car loan. Her health insurance provider reimburses her for $9,700 of the medical expenses.

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