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Charles has AGI of $42,000 and has made the following payments related to (1) land he inherited from his deceased aunt and (2) a personal vacation taken last year.

$ 1,360 1,770 825 State inheritance tax on the land County real estate tax on the land School district tax on the land City s

a. Suppose that Charles holds the land for appreciation.


Deductible taxes from AGIL

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Answer #1
County real estate taxes on the land 1770
School district tax on the land 825
Deductible taxes from AGI 2595

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