Taxes Deductible as an Itemized Deduction Include All of the Following

question 36

Multiple Choice

Taxes deductible as an itemized deduction include all of the following except:

• A) Personal property taxes based on the value of the property.
• B) Taxes that the taxpayer paid on property owned by his/her parents or children.
• C) State and local income taxes.
• D)Real estate taxes based on the assessed value of the property.

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Definitions:

Uncontrollable

Describing events or processes that cannot be managed, directed, or restrained.

Human-Made

Refers to objects, environments, or processes that are created or significantly altered by humans, as opposed to occurring naturally in the environment.

Familiar

Well known from long or close association, giving a sense of comfort or recognition.

Systematic Desensitization

A therapeutic technique used to treat phobias and anxiety disorders by gradually exposing the patient to the feared object or situation in a controlled manner.