Question
37.Karen Baker, a cash basis calendar year taxpayer, paid the following during 2018: Social security tax (withheld from wages) $6,120 Personal property taxes (ad valorem)
37.Karen Baker, a cash basis calendar year taxpayer, paid the following during 2018:
Social security tax (withheld from wages)
$6,120
Personal property taxes (ad valorem)
520
State income tax
5,000
State sales tax
3,800
Cigarette taxes
500
Fine for speeding
250
What itemized deduction may Karen claim for taxes on her return?
a.$5,520
b.$9,820
c.$10,000
d.$15,420
e.None of these
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Managerial Accounting Tools for Business Decision Making
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
8th edition
978-1-119-3904, 1119392422, 111939242X, 1119390451, 978-1119392422
