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During the current year, Seth, a self-employed individual, paid the following taxes: Federal income tax $5,000 State income tax $2,500 Real estate taxes on land
During the current year, Seth, a self-employed individual, paid the following taxes: Federal income tax $5,000 State income tax $2,500 Real estate taxes on land in South America (held as an investment) $1,000 State sales taxes Personal property taxes based upon value 300 $ 1,500 Federal self-employment tax $ 800 What amount can Seth claim as an itemized deduction for taxes paid during the current year? Select one: a. $2.400 b. $3,300 C. $4,200 d. $5,000 e. None of the above
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