Which of the following taxes qualifies as an itemized deduction for Federal income tax purposes?
A)State and local sales taxes
B)Tax assessments for sewer lines
C)State and local taxes on gasoline
D)State taxes on cigarettes
E)None of the above

Question

Quizplus · Accepted Answer

State and local sales taxes can be itemized deductions on Federal income tax returns, allowing taxpayers to deduct either their state and local sales taxes or their state and local income taxes, but not both.

Which of the Following Taxes Qualifies as an Itemized Deduction