Nancy paid the following taxes during the year: Tax on residence (for the period from March 1
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Question:
- Nancy paid the following taxes during the year:
Tax on residence (for the period from March 1 through August 31) $5, State motor vehicle tax (based on the value of the personal use automobile) 430 State sales tax 3, State income tax 3,
Nancy sold her personal residence on June 30 of this year under an agreement in which the real estate taxes were not prorated between the buyer and the seller. What amount qualifies as a deduction from AGI for Nancy?
Related Book For
Advanced Accounting
ISBN: 978-1934319307
2nd edition
Authors: Susan S. Hamlen, Ronald J. Huefner, James A. Largay III
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