Which of the Following Taxes Will Not Qualify as an Itemized

question 40

Multiple Choice

Which of the following taxes will not qualify as an itemized deduction?

• A) personal property taxes assessed on the value of specific property.
• B) state, local, and foreign income taxes.
• C) real estate taxes on a residence.
• D) gasoline taxes on personal travel.
• E) None of the above qualifies as an itemized deduction.

---

Definitions:

Durable Goods

Products that are intended to last for a significant amount of time, such as appliances, cars, and furniture, as opposed to consumer goods which are consumed quickly.

Nondurable Goods

Products with a limited lifespan, intended for consumption or use over a short period, such as food or paper products.

Tangible Attributes

Physical features or characteristics of a product that can be directly perceived by the senses, such as size, shape, color, or weight.

Intangible Attributes

Characteristics of a product or service that cannot be physically touched or seen, such as the brand reputation or the level of customer service.