Matt paid the following taxes this year:

What is the maximum amount Matt can deduct as an itemized deduction on his tax return?

Name: Matt paid the following taxes this year: What is the maximum amount Matt can deduct as an itemized deduction on his tax return?
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Question

Matt paid the following taxes this year:

What is the maximum amount Matt can deduct as an itemized deduction on his tax return?

Quizplus · Accepted Answer

B) Taxpayers can elect to include either their sales taxes or their state and local income taxes. In this case, the sales taxes exceed the state and local income taxes. Real estate taxes on the home are allowed. $3,600 + $1,400 = $5,000.

Matt Paid the Following Taxes This Year