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  3. 11. (14 points) carol and susan (ages 40 and 41, r

11. (14 POINTS) Carol and Susan (ages 40 and 41, respectively) are married and together...

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Accounting

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11. (14 POINTS) Carol and Susan (ages 40 and 41, respectively) are married and together have $100,000 of AGI for 2019. They have recorded the following itemized expenses, all relating to and paid by Carol and Susan in 2019: $14,640 Home mortgage interest (generated on $300,000 loan) Real estate taxes State income taxes paid Sales tax paid Hobby expenses Cash contributions to their church LTCG Property contribution Dentist payments Physicians payments Over-the-counter medications Prescription medications Hospital payments Pre-tax medical insurance premiums $3,560 $4,500 $3,000 $450 $2,060 FMV: $5,300 $200 $2,100 $600 $1,000 $7,000 $4,000 Carol and Susan will file married filing joint. Calculate their 2019 taxable income

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