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Which of the following is not true of state and local sales tax deduction on the 2018 Schedule A? Choose one answer. a. Most taxpayers
Which of the following is not true of state and local sales tax deduction on the 2018 Schedule A? Choose one answer. a. Most taxpayers have the choice of deducting state and local income tax paid in 2018 or state and local sales tax paid in 2018. b. X c. When using the standard amount for figuring the sales tax deduction, taxpayers may add to that standard amount the sales tax paid for large purchases, such as home improvement, automobiles, boats, and airplanes. d. When using the standard amount for figuring the sales tax deduction, the household income used to figure the standard amount is the same as AGI. The student loan interest deduction begins to phase out for taxpayers with MAGI in excess of: + Choose one answer. a. $55,000 ($125,000 for joint returns) b. $60,000 ($130,000 for joint returns) C. $65,000 ($135,000 for joint returns) d. X Marks: 1 If a person can be claimed as a dependent on someone else's tax return, the factor that does not determine whether or not they must file is: Choose one answer. a. X b. Unearned income c. Tax withholding d. Gross Income
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