Multiple Choice
During 2016,Hugh,a self-employed individual,paid the following amounts:
Real estate tax on Iowa residence
$3,800
State income tax
1,700
Real estate taxes on land in Puerto Rico (held as an investment)
1,100
Gift tax paid on gift to daughter
1,200
State sales taxes
1,750
State occupational license fee
300
Property tax on value of his automobile (used 100% for business)
475
What is the maximum amount Hugh can claim as taxes in itemizing deductions from AGI?
A) $6,600
B) $6,650
C) $7,850
D) $8,625
E) None of the above
Correct Answer:

Verified
Correct Answer:
Verified
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