Question
Jesse Brimhall is single. In 2021, his itemized deductions were $9,000 before considering any real property taxes he paid during the year. Jesses adjusted gross
Jesse Brimhall is single. In 2021, his itemized deductions were $9,000 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 2021, he paid real property taxes of $3,000 on property 1 and $1,200 of real property taxes on property 2. He did not pay any other deductible taxes during the year. Problem 14-53 Part c (Static) 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?
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