This year Norma, a single taxpayer, paid $11,200 of real estate taxes on her personal residence...
This year Norma, a single taxpayer, paid $ 11,200 of real estate taxes on her personal residence and $ 9,500 of state income taxes. Which of the following is true?
Multiple Choice
Norma can deduct $ 10,000 of taxes as an itemized deduction.
Norma can deduct $ 9,500 of state income taxes as a for AGI deduction.
If Norma has no other itemized deductions, she should still itemize her deductions.
Norma can deduct $ 11,200 of real estate taxes as an itemized deduction.
Homework Answers
Deductions that can be itemized include :- State and local income, plus either personal property or sales taxes up to $10,000,
Thus the answer is a)
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