Question
Jesse Brimhall is 35, with good eyesight and single. In 2015, his itemized deductions were $4,000 before considering any real property taxes he paid during
Jesse Brimhall is 35, with good eyesight and single. In 2015, his itemized deductions were $4,000 before considering any real property taxes he paid during the year. Jesses adjusted gross income was $70,000 (also before considering any property tax deductions). In 2015, he paid real property taxes of $3,000 on property 1 and $1,200 of real property taxes on property 2.
a. If property 1 is Jesses primary residence and property 2 is his vacation home (he does not rent it out at all), what is his taxable income after taking property taxes into account? ????? ($58,000 is not correct)
b. If property 1 is Jesses business building (he owns the property) and property 2 is his primary residence, what is his taxable income after taking property taxes into account????? ($57,300 is not correct)
c. If property 1 is Jesses primary residence and property 2 is a parcel of land he holds for investment, what is his taxable income after taking property taxes into account?????? ($58,000 is not correct)
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