LO6 The Kimpton Corporation pays the following taxes during 2010:

Also, the county treasurer notifies Kimpton that it is being assessed a special real estate tax of $64,000 for upgrading the sidewalks and sewer connections in the area.
The special tax is payable in 4 yearly installments of $16,000. What amount can Kimpton deduct for taxes paid in 2010?

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Federal taxes withheld from employees $26,000 State taxes withheld from employees 9,000 Social Security withheld from employees 4,850 Kimpton's share of Social Security taxes 4,850 Federal income tax paid in 2010 with 2009 tax return 1,790 Federal income tax paid in 2010 12,340 Real estate taxes 6,750 State income taxes paid in 2010 5,720 State income taxes paid in 2010 with 2009 return 690 State tax on capital acquisitions 2,700 Sales tax on supplies 3,250