Billy Joe made the following payments to state and local governments during the year: State income taxes withheld from wages totaled $3,500 The remaining balance on last year's state income taxes of $200 was paid on 4/10 State sales taxes paid totaled $2,000 Real estate taxes totaled $6,000, which included $1,000 for solid waste collection and disposal $60 annual security alarm permit $120 to renew the tags on his personal truck $25 hunting license What is his maximum deduction for state and local taxes?

Answer rating: 100% (QA)

Calculating Billy Joes Maximum Deduction for State and Local Taxes Step 1 Identify deductible and n... View the full answer