KT
Kelvin Taylor
Answers (2)
KT
Answered
In terms of phone use,good etiquette suggests which of the following as being most important?
A) Speaking softly so others in the work space are not disturbed
B) Don't waste time identifying yourself-it is no longer necessary with caller I.D.
C) Allow calls to go to voicemail whenever possible to keep a record of calls
D) Identify yourself when answering the phone before asking how you can be of help
E) Using voice mail instead of other means for messaging
A) Speaking softly so others in the work space are not disturbed
B) Don't waste time identifying yourself-it is no longer necessary with caller I.D.
C) Allow calls to go to voicemail whenever possible to keep a record of calls
D) Identify yourself when answering the phone before asking how you can be of help
E) Using voice mail instead of other means for messaging
On Sep 28, 2024
D
KT
Answered
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$6,500Home mortgage interest $14,500Charitable contributions $3,500 Miscellaneous itemized deductions (before 2% of AGI floor) $2,800\begin{array}{lr}\text {Medical expenses (before \( 10.0 \% \) of AGI floor) }&\$8,500\\\text { State income taxes}&\$6,500\\\text {Home mortgage interest }&\$14,500\\\text {Charitable contributions }&\$3,500\\\text { Miscellaneous itemized deductions (before } 2 \% \text { of AGI floor) }&\$2,800\end{array}Medical expenses (before 10.0% of AGI floor) State income taxesHome mortgage interest Charitable contributions Miscellaneous itemized deductions (before 2% of AGI floor) $8,500$6,500$14,500$3,500$2,800
Medical expenses (before 10.0% of AGI floor) $8,500 State income taxes$6,500Home mortgage interest $14,500Charitable contributions $3,500 Miscellaneous itemized deductions (before 2% of AGI floor) $2,800\begin{array}{lr}\text {Medical expenses (before \( 10.0 \% \) of AGI floor) }&\$8,500\\\text { State income taxes}&\$6,500\\\text {Home mortgage interest }&\$14,500\\\text {Charitable contributions }&\$3,500\\\text { Miscellaneous itemized deductions (before } 2 \% \text { of AGI floor) }&\$2,800\end{array}Medical expenses (before 10.0% of AGI floor) State income taxesHome mortgage interest Charitable contributions Miscellaneous itemized deductions (before 2% of AGI floor) $8,500$6,500$14,500$3,500$2,800
On Sep 23, 2024
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 6,5006,50006,500 Mortgage interest 14,50014,50014,5000 Charitable contrib. 3,5003,503,5000 Misc. I.D. 2,8009000900\begin{array}{lrrrr}&\text { Total }&\text { Reqular Tax }&\text { AMT }&\text { Adjustment }\\\text { Medical expenses } & \$ 8,500 & \$ 0 & \$ 0&\$0\\\text { State income taxes } & 6,500& 6,500 & 0 &6,500\\\text { Mortgage interest } & 14,500 & 14,500 & 14,500 &0\\\text { Charitable contrib. } & 3,500& 3,50 & 3,500 &0\\\text { Misc. I.D. } & 2,800 & 900 & 0&900\\\end{array} Medical expenses State income taxes Mortgage interest Charitable contrib. Misc. I.D. Total $8,5006,50014,5003,5002,800 Reqular Tax $06,50014,5003,50900 AMT $0014,5003,5000 Adjustment $06,50000900
Total AMT adjustment for itemized deductions $7,400\text { Total AMT adjustment for itemized deductions }\quad\quad\$7,400 Total AMT adjustment for itemized deductions $7,400
Total Reqular Tax AMT Adjustment Medical expenses $8,500$0$0$0 State income taxes 6,5006,50006,500 Mortgage interest 14,50014,50014,5000 Charitable contrib. 3,5003,503,5000 Misc. I.D. 2,8009000900\begin{array}{lrrrr}&\text { Total }&\text { Reqular Tax }&\text { AMT }&\text { Adjustment }\\\text { Medical expenses } & \$ 8,500 & \$ 0 & \$ 0&\$0\\\text { State income taxes } & 6,500& 6,500 & 0 &6,500\\\text { Mortgage interest } & 14,500 & 14,500 & 14,500 &0\\\text { Charitable contrib. } & 3,500& 3,50 & 3,500 &0\\\text { Misc. I.D. } & 2,800 & 900 & 0&900\\\end{array} Medical expenses State income taxes Mortgage interest Charitable contrib. Misc. I.D. Total $8,5006,50014,5003,5002,800 Reqular Tax $06,50014,5003,50900 AMT $0014,5003,5000 Adjustment $06,50000900
Total AMT adjustment for itemized deductions $7,400\text { Total AMT adjustment for itemized deductions }\quad\quad\$7,400 Total AMT adjustment for itemized deductions $7,400