Betty paid 5000 of state income taxes in 2011 she also paid, Ask an Expert

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Betty paid $5,000 of state income taxes in 2011. She also paid $75 in vehicle/property taxes to renew her vehicle as well as $3400 in real estate taxes on a lot of land she owns in Hawaii. She also paid $2500 in sales tax on the purchase of a new boat during 2011. What is her itemized deduction for Taxes paid for the year? Hint: Review rules for deducting sales tax (it's either / or!)

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Financial Management, Finance

Category:- Financial Management
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