Which of the Following State and Local Taxes Are Deductible

question 100

Multiple Choice

Which of the following state and local taxes are deductible on federal income taxes for those that itemize deductions?

• A) property taxes and excise taxes.
• B) sales taxes and income taxes.
• C) licensing fees and income taxes.
• D) excise taxes and sales taxes.
• E) income taxes and property taxes.

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Definitions:

Personality

The characteristic set of behaviors, cognitions, and emotional patterns that evolve from biological and environmental factors.

Rationality

The characteristic of adhering to or being aligned with logic or reasoning.

Logical Thinking

The process of using reasoning consistently to come to a conclusion, problem solving and decision making based on a set of given rules.

Reasoning

The process of thinking about something in a logical way in order to form a conclusion or judgment.