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1. Only medical expenses of the taxpayer, if filing single, or to the taxpayer and spouse if filing married filing jointly are deductible. True False
1. Only medical expenses of the taxpayer, if filing single, or to the taxpayer and spouse if filing married filing jointly are deductible.
True
False
2. Deductible taxes include all of the following except
A. Property taxes assessed on real property based on value.
B. Taxes imposed by the federal government.
C. State income taxes.
D. Property taxes assessed on personal property based on value.
3. A taxpayer filing married filing jointly, home equity indebtedness cannot exceed
A. $1,000,000
B. $1,100,000
C. $100,000
D. $50,000
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