Antonio reported the following itemized deductions on his 2017 tax return.His AGI for 2017 was $95,000.The mortgage interest is all qualified mortgage interest to purchase his personal residence.For AMT,compute his total adjustment for itemized deductions. Medical expenses (before 10.0 % of AGI floor) $ 8 , 500 State income taxes $ 6 , 500 Home mortgage interest $ 14 , 500 Charitable contributions $ 3 , 500 Miscellaneous itemized deductions (before 2 % of AGI floor) $ 2 , 800 \begin{array}{lr} ext {Medical expenses (before 10.0 \% of AGI floor) } & \$8,500\ ext { State income taxes} & \$6,500\ ext {Home mortgage interest } & \$14,500\ ext {Charitable contributions } & \$3,500\ ext { Miscellaneous itemized deductions (before } 2 \% ext { of AGI floor) } & \$2,800\end{array} Medical expenses (before 10.0% of AGI floor) State income taxes Home mortgage interest Charitable contributions Miscellaneous itemized deductions (before 2% of AGI floor) $8 , 500 $6 , 500 $14 , 500 $3 , 500 $2 , 800

Question

Antonio reported the following itemized deductions on his 2017 tax return.His AGI for 2017 was $95,000.The mortgage interest is all qualified mortgage interest to purchase his personal residence.For AMT,compute his total adjustment for itemized deductions. Medical expenses (before  10.0 %  of AGI floor)  $ 8 , 500  State income taxes $ 6 , 500 Home mortgage interest  $ 14 , 500 Charitable contributions  $ 3 , 500  Miscellaneous itemized deductions (before  2 %  of AGI floor)  $ 2 , 800 \begin{array}{lr}	ext {Medical expenses (before   10.0 \%   of AGI floor) } & \$8,500\	ext { State income taxes} & \$6,500\	ext {Home mortgage interest } & \$14,500\	ext {Charitable contributions } & \$3,500\	ext { Miscellaneous itemized deductions (before } 2 \% 	ext { of AGI floor) } & \$2,800\end{array} Medical expenses (before 10.0% of AGI floor)   State income taxes Home mortgage interest  Charitable contributions   Miscellaneous itemized deductions (before  2%  of AGI floor)  ​ $8 , 500 $6 , 500 $14 , 500 $3 , 500 $2 , 800 ​

Kelvin Taylor · Accepted Answer

Final Answer :  Antonio's total AMT adjustment for itemized deductions is calculated as follows:  Total   Reqular Tax   AMT   Adjustment   Medical expenses  $ 8 , 500 $ 0 $ 0 $ 0  State income taxes  6 , 500 6 , 500 0 6 , 500  Mortgage interest  14 , 500 14 , 500 14 , 500 0  Charitable contrib.  3 , 500 3 , 50 3 , 500 0  Misc. I.D.  2 , 800 900 0 900 \begin{array}{lrrrr} & 	ext { Total } & 	ext { Reqular Tax } & 	ext { AMT } & 	ext { Adjustment }\	ext { Medical expenses }  &  \$ 8,500  &  \$  0  &  \$ 0 & \$0\	ext { State income taxes }  &  6,500 &  6,500  &  0  & 6,500\	ext { Mortgage interest }  &  14,500  &  14,500  &  14,500  & 0\	ext { Charitable contrib. }  &  3,500 &  3,50  &  3,500  & 0\	ext { Misc. I.D. }  &  2,800  &  900  &  0 & 900\\end{array}  Medical expenses   State income taxes   Mortgage interest   Charitable contrib.   Misc. I.D.  ​  Total  $8 , 500 6 , 500 14 , 500 3 , 500 2 , 800 ​  Reqular Tax  $0 6 , 500 14 , 500 3 , 50 900 ​  AMT  $0 0 14 , 500 3 , 500 0 ​  Adjustment  $0 6 , 500 0 0 900 ​  Total AMT adjustment for itemized deductions  $ 7 , 400 	ext { Total AMT adjustment for itemized deductions }\quad\quad\$7,400  Total AMT adjustment for itemized deductions  $7 , 400

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