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8,000 Problem 6-54 (LO. 1, 3, 4) During the current year, Robert pays the following amounts associated with his own residence: Property taxes $3,000 Mortgage
8,000 Problem 6-54 (LO. 1, 3, 4) During the current year, Robert pays the following amounts associated with his own residence: Property taxes $3,000 Mortgage interest Repairs Utilities 2,700 Replacement of roof 4,000 In addition, Robert paid $1,500 of property taxes on the home that is owned and used by Anne, his daughter. a. Classify the following expenses for Robert as "Deductible" or "Nondeductible". 1,200 Property taxes - Robert Property taxes - Anne Mortgage interest Repairs Utilities Replacement of roof Enter Robert's total deductions without regard for any limitations. b. Can Anne deduct the $1,500 of property taxes? C. If deductible, are the deductions for AGI or from AGI (itemized)? d. Indicate whether each of the following is "True" or "False" regarding how the tax consequences could be improved. There is nothing that can be done to improve the tax consequences. Robert can make a cash gift to Anne, who could then pay for her expenses. If Robert can claim Anne as a dependent, he can deduct her expenses
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