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Mal who had significant itemized deductions for 2020 and therefore was eligible to use Schedule A purchased a new vehicle in 2020 for $50,000 with
Mal who had significant itemized deductions for 2020 and therefore was eligible to use Schedule A purchased a new vehicle in 2020 for $50,000 with a state sales tax of 10%. The allocated deduction amount for other purchases made by Maithroughout the year using the IRS state and local sales tax tables, would be 5750. She also paid state income taxes of $4,500 for 2020 Mal's best option to legally maximize her tax savings in 2020, assuming she was under the $10.000 mit for state and local taxes, would be to Multiple Choice O deduct the amount of state sales tax for the vehicle purchase on Schedule A. take the deduction for the state income taxes paid on Schedule A. take the standard deduction deduct her total amount of allowable state sales tax deduction on Schedule A
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