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Mrs. Stuart paid the following taxes: Local property tax on: 20 acres of land held for investment Condominium used as principal residence Sailboat used as
Mrs. Stuart paid the following taxes: Local property tax on: 20 acres of land held for investment Condominium used as principal residence Sailboat used as vacation residence Florida sales tax on consumer goods Federal employee payroll tax on salary Federal income tax $ 1,500 2,825 1,975 3,400 15, 200 30,800 Required: To what extent (if any) can Mrs. Stuart deduct each of these payments? (Leave no cells blank - be sure to enter "O" wherever required.) Answer is complete but not entirely correct. Amount Local property tax on: 20 acres of land held for investment 125 X 417 X Condominium used as principal residence Sailboat used as vacation residence 165 X Florida sales tax on consumer goods 3,400 Federal employee payroll tax on salary 0 Federal income tax 0
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