In: Accounting
Hugh, a self-employed individual, paid the following amounts during the year 2020:
Real estate tax on Texas residence $2,000
State income tax withheld 1,500
Additional state income tax paid when filing his 2019 tax return 600
Real estate tax on a rental property 2,000
State sales taxes 900
State motor vehicle tax (based on the value of personal use automobile) 400
Sidewalk special assessment 2,000
Federal income tax 5,000
Self-employment tax 1,000
Gambling loss (gambling winning is $100) 1,000
What is the maximum amount Hugh can claim as taxes in itemizing deductions from AGI?
Please give positive ratings..............your ratings will be helpful for me. if you have any query regarding this solution please comment below. I will be grateful to help you. Thank you!