Taxes deductible as an itemized deduction include all of the following except:
A) Personal property taxes based on the value of the property.
B) Taxes that the taxpayer paid on property owned by his/her parents or children.
C) State and local income taxes.
D)Real estate taxes based on the assessed value of the property.

Question

Quizplus · Accepted Answer

Taxes that the taxpayer paid on property owned by his/her parents or children cannot be deducted as an itemized deduction as they are not directly related to the taxpayer's own property or income. The other options listed (personal property taxes, state and local income taxes, and real estate taxes) are all deductible as itemized deductions under certain circumstances.

Taxes Deductible as an Itemized Deduction Include All of the Following