Which of the following taxes is not deductible as an itemized deduction? a.Sales tax in a state with no income tax b.State income tax c.Federal income tax d.Property tax on second residence

FINANCIAL ACCOUNTING
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Chapter1: Financial Statements And Business Decisions
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  1. Which of the following taxes is not deductible as an itemized deduction?
    a.Sales tax in a state with no income tax
    b.State income tax
    c.Federal income tax
    d.Property tax on second residence 
Expert Solution
Step 1

Non Deductible Taxes under itemized deduction:

1. federal income tax

2. Federal, state or local estate or gift tax

3. Social security taxes & other federal employment taxes

4. Self employment taxes

5. Business taxes & rental property taxes

6. Foreign personal or real property taxes.

 

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