Which of the following costs are potentially deductible on Form 1040, Schedule A as taxes for 2015?
1) Property tax on principal residence.
2) Garbage pickup itemized on the real estate bill.
3) Real estate tax on property owned as an investment.
4) Sales tax paid on the purchase of a personal car.
A) None of the items.
B) 2 and 4.
C) 1, 3, & 4.
D)All of the items.

Question

Quizplus · Accepted Answer

Property tax on principal residence and real estate tax on property owned as an investment are both potentially deductible as taxes on Schedule A. Sales tax paid on the purchase of a personal car can also be deductible, but only if the taxpayer chooses to deduct sales tax instead of state income tax on Schedule A. Garbage pickup itemized on the real estate bill is not deductible as a tax, but may be included in the deductible amount for property taxes.

Which of the Following Costs Are Potentially Deductible on Form