During the year Jason and Kristi,cash-basis taxpayers,paid the following taxes: What amount can Kristi and Jason claim as an itemized deduction for taxes on their federal income tax return in the current year?
A)$7,900
B)$8,900
C)$10,900
D)$15,400

Question

During the year Jason and Kristi,cash-basis taxpayers,paid the following taxes:  What amount can Kristi and Jason claim as an itemized deduction for taxes on their federal income tax return in the current year?
A)$7,900 
B)$8,900 
C)$10,900 
D)$15,400

Quizplus · Accepted Answer

A)$4,100 + 3,000 + 800 = 7,900.Gift taxes,federal income taxes and assessments are not allowed as deduction by the IRC.

During the Year Jason and Kristi,cash-Basis Taxpayers,paid the Following Taxes