Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Dan has AGI of $50,000 and paid the following taxes during this tax year. State income tax withholding $ 1,125 State income tax estimated payments
Dan has AGI of $50,000 and paid the following taxes during this tax year.
State income tax withholding | $ | 1,125 |
State income tax estimated payments | 600 | |
Federal income tax withholding | 2,925 | |
Social Security tax withheld from wages | 1,800 | |
State excise tax on liquor | 350 | |
Automobile license (based on the cars weight) | 275 | |
State sales tax paid | 375 | |
|
Calculate how much Dan can deduct for taxes as an itemized deduction this year.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started