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27. Indicate the proper federal income tax treatment of the item on an individual income tax return. State and local property taxes paid on a
27. Indicate the proper federal income tax treatment of the item on an individual income tax return. State and local property taxes paid on a personal residence. Huge amount of tips received at your part-time job waiting tables at Whitehouse-Crawford. > Alimony paid by professional golfer to deadbeat ex-husband who is unemployed. 1. IN = Included in Gross Income Regular Individual Retirement Account (IRA) contribution paid during the current year. 2. EX = Excluded from Gross Income Life insurance proceeds resulting from the death of your spouse. 3. AG = Deducted in Arriving at Adjusted Gross Income Cost of commuting to and from work in Kennewick. 4. DE = Deducted from Adjusted Gross Income 5. ND = Not Deductible in Computing Taxable Income. Money inherited from a stranger whom you befriended 10 years ago in Seattle
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