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Kryger [21]
4 years ago
13

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?
O $22,250
O $27,400
O $24,400
O $25,250
Business
1 answer:
Maurinko [17]4 years ago
3 0

Answer:

The FROM AGI deductions for year 2019 are $24,400.

Explanation:

FROM AGI deduction for a year are the maximum of the following two items

  • itemized deductions
  • standardized  deductions

Here itemized deduction is given as $22,550 where as value of standardized deduction is $24,400 (for 2019)

Thus as the maximum of two is valid thus the FROM AGI deductions for year 2019 are $24,400.

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