Matt Paid the Following Taxes This Year What Is the Maximum Amount Matt Can Deduct as an l

question 105

Multiple Choice

Matt paid the following taxes this year: $$\begin{array} { | l | r| } \hline \text { Real estate taxes on his own residence } & \$ 3,600 \\\hline \text { State income taxes } & 900 \\\hline \text { Local city income taxes } & 300 \\\hline \text { State salestaxes } & 1,400 \\\hline\end{array}$$ What is the maximum amount Matt can deduct as an itemized deduction on his tax return?

• A)$6,200
• B)$5,000
• C)$5,300
• D)$4,800

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Usage Of Trade

Any practice or method of dealing having such regularity of observance in a place, vocation, or trade as to justify an expectation that it will be observed with respect to the transaction in question.

Commercial Practices

Activities, methods, and ethics involved in conducting business and trading of goods and services in the marketplace.

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