For calendar year 2021, Stuart and Pamela Gibson file a joint return reflecting AGI of $361,600. Their itemized deductio

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For Calendar Year 2021 Stuart And Pamela Gibson File A Joint Return Reflecting Agi Of 361 600 Their Itemized Deductio 1 (300.67 KiB) Viewed 44 times

For calendar year 2021, Stuart and Pamela Gibson file a joint return reflecting AGI of $361,600. Their itemized deductions are as follows: Note: All expenses are before any applicable limitations, unless otherwise noted. $71,800 Casualty loss in a Federally declared disaster area (not covered by insurance; before the 10%-of-AGI limitation but after the $100 floor) Home mortgage interest (loan qualifies as acquisition indebtedness) Credit card interest 28,720 1,436 Property taxes on home 21,540 Charitable contributions 39,490 State income tax 25,130 Tax return preparation fees 2,154 Round your final answers to the nearest whole dollar. Calculate the amount of itemized deductions the Gibsons may claim for the year.