Homework Answers
Answer: $ 2,780
Explanation :
From 2018, if itemized, total annual allowable limit for State and local taxes is capped at $ 10,000.
Although as separate allowable property tax is (1,690 + 1,090 ) = $ 2,780
Development costs is not a property tax amount.
Therefore, deductible property taxes amount, lessor of follow:
(10,000 - 5,950 ) $ 4,050
or $ $2,780
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