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During the current year, Mr. and Mrs. West paid the following taxes: Property taxes on residence...

During the current year, Mr. and Mrs. West paid the following taxes:

Property taxes on residence $1,900
Special assessment for installation of a sewer system in their neighborhood $1,000
State personal property tax on their automobile (based on value) $400
Property taxes on land held for long-term appreciation $600


What amount can the Wests deduct as property taxes in calculating itemized deductions for the current year?

a.$2,300

b.$2,900

c.$0

d.$1,900

e.None of these choices are correct.

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Answer #1

Amount that can be deducted as property taxes in calculating itemized deductions for the current year

= Property taxes on residence 1900 + state personal property tax on their automobile 400 + property taxes on land held for long term appreciation 600

= $2,900

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