During the current year,George,a salaried taxpayer,paid the following taxes which were not incurred in connection with a trade or business: What amount can George claim for the current year as an itemized deduction for the taxes paid,assuming he deducts state and local income taxes?

Question

Quizplus · Accepted Answer

From the provided information, the following taxes were paid:
- $500 in state income taxes
- $400 in property taxes
- $500 in local income taxes (assumed to be separate from state income taxes)

Assuming George deducts state and local income taxes as an itemized deduction, he can claim the sum of the state income tax and local income tax paid, which is $500 + $500 = $1,000.

In addition, he can also claim the amount of property tax paid, which is $400.

Therefore, the total amount George can claim as an itemized deduction for the taxes paid is $1,000 + $400 = $1,400, which is option C.

During the Current Year,George,a Salaried Taxpayer,paid the Following Taxes Which