During the year Jason and Kristi, cash basis taxpayers, paid the following taxes: What amount can Kristi and Jason claim as an itemized deduction for taxes on their federal income tax return in the current year?

Question

During the year Jason and Kristi, cash basis taxpayers, paid the following taxes:  What amount can Kristi and Jason claim as an itemized deduction for taxes on their federal income tax return in the current year?

Quizplus · Accepted Answer

$4,100 + 3,000 + 800 = 7,900. Gift taxes, federal income taxes and assessments are not allowed as deduction by the IRC.

During the Year Jason and Kristi, Cash Basis Taxpayers, Paid