They had purchased their home on may 1 last year. what, Ask an Expert

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In February of the current year (assume a non-leap year), Ken and Kelsey received their property tax statement for last calendar-year taxes of $1,600, which they paid to the taxing authority on March 1 of the current year. They had purchased their home on May 1 last year. What amount of property tax on this statement may they claim as an itemized deduction this year?

A) $0

B) $1,069

C) $1,074

D) $1,600

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M945821

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