Mary paid $2,000 of state income taxes in 2016. The total sales tax she paid...
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Accounting
Mary paid $2,000 of state income taxes in 2016. The total sales tax she paid during 2016 was $4,500, which included $3,000 for the cost of a new car. How should Mary treat the taxes paid on her 2016 tax return?
Mary can deduct the greater of the $ of regular sales taxes paid or the $ of state income taxes paid, assuming she itemizes deductions. In this case, she should deduct the $ in sales tax on her 2016 Schedule A.
Jerry made the following contributions during 2016:
His synagogue (by check)
$1,050
The Democratic Party (by check)
180
The American Red Cross (by check)
175
His lodge fraternal organization for tickets to (a social club) a holiday party
100
In addition, Jerry donated used furniture to the Salvation Army costing $400 with a fair market value of $200. Jerry has adjusted gross income of $45,000, the necessary written acknowledgments, and he itemizes his deductions.
Complete the Gifts to Charity section of Schedule A below to show Jerry's deduction for 2016.
Enter all amounts as positive numbers.
Gifts to Charity
16
Gifts by cash or check. If you made any gift of $250 or more,