Question
In year 1, Peter and Shaline Johnsen moved into a home in a new sub division.Theirs was one of the first homes in the subdivision.
In year 1, Peter and Shaline Johnsen moved into a home in a new sub division.Theirs was one of the first homes in the subdivision. In year 1, they paid $4,100 in real property taxes to the state government, $1,200 to the developer of the subdivision for an assessment to pay for the sidewalks, and $890 for real property taxes on land they hold as an investment. What amount of property taxes are the Johnsens allowed to deduct assuming their itemized deductions exceed the standard deduction amount before considering any property tax deductions?
Deductible Tax amount___
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