Multiple Choice
Juan and Dorothy purchase a new residence on May 1,2016.Juan and Dorothy pay the full amount of the 2016 property taxes of $7,200 on their new house when the taxes became due in December of 2016.What amount of the taxes that Juan and Dorothy pay in December 2016 can they deduct on their 2016 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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