I need help ASAP. Please provide me with right answers. Thank you Pedro, who...
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Accounting
I need help ASAP. Please provide me with right answers. Thank you
Pedro, who is a single taxpayer, had AGI of $328,000 for 2016. He incurred the following expenses during the year: Medical expenses before 10%-of-AGI limitation $12,000 State and local income taxes $8,900 Real estate taxes $1,600 Home mortgage interest $16,000 Charitable contributions $2,200 Deductible investment interest expense $1,700 Compute the amount of Pedro's itemized deductions after any applicable reductions. Round your computations to the nearest dollar and use rounded amounts in subsequent calculations 28,307X Feedback Check My Work In the American Taxpayer Relief Act of 2012, Congress reinstated several provisions limiting tax benefits for high-income taxpayers. The limitations include the exemption phaseout and a phaseout of itemized deductions
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