Mr. Curtis paid the following taxes: Federal income tax Federal gift tax Federal employer payroll tax...

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Mr. Curtis paid the following taxes: Federal income tax Federal gift tax Federal employer payroll tax for housekeeper Indiana income tax Indiana sales tax on consumer goods and services Local property tax on: Principal residence Vacation home Two automobiles Answer is complete but not entirely correct. Required: Assume the taxable year is 2023. To what extent (if any) can Mr. Curtis deduct each of these payments? Note: Leave no cells blank - be certain to enter "0" wherever required. Federal income tax Federal gift tax Federal employer payroll tax for housekeeper Indiana income tax Indiana sales tax on consumer goods and services. Local property tax on Principal residence Vacation home Two automobiles Amount $ 66,750 334 X 1,202 7,500 2,670 3,680 2,340 1,200 $ 66,750 334 1,202 7,500 2,670 *> * 3,680 2,340 1,200 Mr. Curtis paid the following taxes: Federal income tax Federal gift tax Federal employer payroll tax for housekeeper Indiana income tax Indiana sales tax on consumer goods and services Local property tax on: Principal residence Vacation home Two automobiles Answer is complete but not entirely correct. Required: Assume the taxable year is 2023. To what extent (if any) can Mr. Curtis deduct each of these payments? Note: Leave no cells blank - be certain to enter "0" wherever required. Federal income tax Federal gift tax Federal employer payroll tax for housekeeper Indiana income tax Indiana sales tax on consumer goods and services. Local property tax on Principal residence Vacation home Two automobiles Amount $ 66,750 334 X 1,202 7,500 2,670 3,680 2,340 1,200 $ 66,750 334 1,202 7,500 2,670 *> * 3,680 2,340 1,200

Answer rating: 100% (QA)

Mr Curtis income tax 7500 is more than his sales tax 2670 be... View the full answer