Joe is self-employed and paid these amounts
REAL ESTATE TAX ON RESIDENCE 3,900
STATE INCOME TAX 1,400
REAL ESTATE TAX ON LAND IN CANADA (AS INVEST) 900
STATE SALES TAX 1,950
STATE OCCUPATIONAL LICENSE FEE 250
PERSONAL PROP. TAX ON VALUE OF CAR 200
2006-10-25 09:07:06 · 3 answers · asked by brownskeith 1 in Business & Finance ➔ Taxes ➔ United States
REAL ESTATE TAX ON RESIDENCE 3,900
deductible on line 10 of schedule A
STATE INCOME TAX 1,400
STATE SALES TAX 1,950
one or the other, but not both deductible on line 5
REAL ESTATE TAX ON LAND IN CANADA (AS INVEST) 900
not an itemized deduction, but may adjust tax basis for investment. (I didn't check)
STATE OCCUPATIONAL LICENSE FEE 250
deductible on line 20. Subject to 2% AGI reduction
PERSONAL PROP. TAX ON VALUE OF CAR 200
deductible on line 7.
2006-10-25 11:46:46 · answer #1 · answered by STEVEN F 7 · 0⤊ 1⤋
seems like homework but when your AGI is one quantity and your itemized deduction are the identical it could be seen there could be no earnings tax legal responsibility except the private exemptions additional guarantee no earnings tax legal responsibility
2016-09-01 02:34:10 · answer #2 · answered by ? 4 · 0⤊ 0⤋
Having someone do your homework is only deductible if you pay the person in advance. You may deposit the fee in my Swiss account.
2006-10-25 10:38:32 · answer #3 · answered by ? 6 · 2⤊ 0⤋