Taxes deductible as an itemized deduction include all of the following except:
A)Taxes that the taxpayer paid on property owned by his/her parents or children.
B)State and local income taxes.
C)Real estate property taxes based on the assessed value of the property.
D)Personal property taxes based on the value of the property.

Question

Quizplus · Accepted Answer

Taxes paid on property owned by parents or children are not deductible as an itemized deduction as those properties are not owned by the taxpayer. The other options listed are taxes that are deductible as an itemized deduction.

Taxes Deductible as an Itemized Deduction Include All of the Following