DigiTools Digital Workbook
The itemized deductions consist of $5,000 in state income taxes and a $7,000 casualty loss (after the $100 floor and after applying the 10 percent of adjusted gross income limitation). Of the $12,000 of itemized deductions, what amount is allowed as a deduction in calculating taxable income on Elvis and Greta's 2007 federal income tax return? ................
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