Ricardo Pays the Following Taxes During the Year What Is the Amount Ricardo Can Deduct for Taxes as Real

question 29

Multiple Choice

Ricardo pays the following taxes during the year:
$\begin{array}{lr}\text { Real estate taxes on his personal residence } & \$ 2,500 \\\text { Real estate taxes on rental property } & 2,000 \\\text { State sales taxes } & 600 \\\text { State income taxes } & 4,000 \\\text { City income taxes } & 1,000 \\\text { Federal income taxes } & 5,400\end{array}$
What is the amount Ricardo can deduct for taxes as an itemized deduction for the year?

• A)$ 7,500
• B)$ 8,100
• C)$ 9,500
• D)$12,900
• E)$15,500

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Definitions:

People Over Task

emphasizes prioritizing the well-being and interests of individuals involved in a project or organization over the mere completion of tasks.

Unilateral Fashion

denotes actions or policies implemented by one side or party without consultation with or agreement from others involved.

Democratic Style

A leadership approach that involves participatory decision-making, where team members are encouraged to share ideas and opinions.

Supervisor

An individual who oversees and directs the work of others, typically having some level of managerial authority.