The Kimpton Corporation pays the following taxes during 2021: Also, the county treasurer notifies Kimpton that it

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The Kimpton Corporation pays the following taxes during 2021:

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 2021?

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Concepts In Federal Taxation 2022

ISBN: 9780357515785

29th Edition

Authors: Kevin E. Murphy, Mark Higgins, Tonya K. Flesher

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