Multiple Choice
Juan and Dorothy purchase a new residence on May 1, 2014. Juan and Dorothy pay the full amount of the 2014 property taxes of $7,200 on their new house when the taxes became due in December of 2014. What amount of the taxes that Juan and Dorothy pay in December 2014 can they deduct on their 2014 tax return?
A) Zero, no amount is deductible.
B) $2,400
C) $4,800
D) $7,200
Correct Answer:
Verified
Correct Answer:
Verified
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