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  3. 14. ltemized deductions. tracy is single and had a

14. ltemized Deductions. Tracy is single and had an adjusted gross income of $37,000 in...

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Accounting

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14. ltemized Deductions. Tracy is single and had an adjusted gross income of $37,000 in 2015. Tracy also has the following items: Unreimbursed medical expenses $3,000 State income tax 1,850 Interest expense (first mortgage) 3,040 Interest expense (second mortgage) 1,200 Real estate tax 700 Interest expense-car loan 550 Interest expense--credit card 125 Gifts to charity 300 How much may Tracy claim as itemized deductions? 15. Taxable income. Using the information in problem 14, if Tracy's standard deduction is $6,300 and her exemption is $4,000, what is her taxable income

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