Antonio reported the following itemized deductions on his 2018 tax return. His AGI for 2018 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
What will be an ideal response?
Antonio's total AMT adjustment for itemized deductions is calculated as follows:
| Total | Regular 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 | 3,500 | 3,500 | 0 | ||||||||
| Total AMT adjustment for itemized deductions | $ | 6,500 | ||||||||||
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