During the Year Jason and Kristi,cash-Basis Taxpayers,paid the Following Taxes

question 4

Multiple Choice

During the year Jason and Kristi,cash-basis taxpayers,paid the following taxes: $$\begin{array} { | l | r | } \hline \text { State gift tax } & \$ 1,000 \\\hline \text { Property tax on home in the United States } & 4,100 \\\hline \text { State income tax (withholdings) } & 3,000 \\\hline \text { Estimated federal income tax } & 4,500 \\\hline \text { Sstimated state income tax (paid by check) } & 800 \\\hline \text { Special assessment by city for sidewalks and street } & \\\text { lighting on their street } & 2,000 \\\hline\end{array}$$ What amount can Kristi and Jason claim as an itemized deduction for taxes on their federal income tax return in the current year?

• A)$7,900
• B)$8,900
• C)$10,900
• D)$15,400

---

Definitions:

Valid Will

A legal document expressing an individual's wishes regarding the distribution of their property after death, prepared according to legal formalities.

Estate Execution

The process of managing and distributing a deceased person's property under the guidance of an executor as designated in the will.

Settling Matters

The process of resolving disputes or finalizing agreements outside of court or through negotiation.

Decedent's Estate

The real and personal property owned by an individual at the time of their death, subject to distribution among heirs and beneficiaries per the will or state law.