Francisco is 29, filing single and has an AGI of $43,000. He lists the following...
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Accounting
Francisco is 29, filing single and has an AGI of $43,000. He lists the following as itemized deduction: $2,300 mortgage interest, $880 real estate taxes, $1,520 state income taxes withheld, $75 cash donation to church, $2,100 in health coverage premiums. What is the total of allowable itemized deductions?
a) $4,775
b) $5,355
c) $6,800
d) $6,875 2)
Using the same scenario above, true or false, it would be in Franciscos best interest to take his itemized deductions over the standard deductions?
a) True
b) False
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