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mash [69]
3 years ago
14

Will and Lyndsey are married with no dependents and file a joint tax return. In 2019, they paid $3,000 in qualified student loan

interest in addition to $22,550 in itemized deductions. What is the total of their "FROM AGI" deductions in 2019?
Business
1 answer:
wel3 years ago
7 0

Answer:

The total of their "FROM AGI" deductions in 2019 is $24,400

Explanation:

The computation of the total From AGI deductions is computed by considering

Larger amount of  

1. Itemized deductions - $22,250

2. Standard deductions - $ 24,400

Since the standard deduction for the married couple is $24,400 is larger than the itemized deduction. So, the total deduction in 2019 is $24,400

And, the student loan interest should not be considered. Hence, it is ignored in the computation part.

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