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In February of the current year (assume a non-leap year), Ken and Kelsey received their property tax ...

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In February of the current year (assume a non-leap year), Ken and Kelsey received their property tax ...

In February of the current year (assume a non-leap year), Ken and Kelsey received their property tax statement for last calendar-year taxes of $1,600, which they paid to the taxing authority on March 1 of the current year. They had purchased their home on May 1 last year. What amount of property tax on this statement may they claim as an itemized deduction this year?

▸ $0

▸ $800

▸ $1,074

▸ $1,600

Textbook

Federal Taxation 2017 Individuals

Edition: 30^th

Authors: Pope, Rupert, Anderson

Read 63 times

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