Marlin and Teri are married and will file a joint return. They live in a state that does not impose a state sales tax. However, they did pay the following taxes in 2021: $4,800 state income tax withheld from earnings. $900 state balance due for 2020. $750 personal property taxes. $5,750 real estate taxes. How much are they eligible to deduct for taxes paid on Schedule A, Itemized Deductions? $10,000 $11,300 $11,450 $12,200

FINANCIAL ACCOUNTING
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Chapter1: Financial Statements And Business Decisions
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Marlin and Teri are married and will file a joint return. They live in a state that does not impose a state sales tax. However, they did pay the following taxes in 2021:

  • $4,800 state income tax withheld from earnings.
  • $900 state balance due for 2020.
  • $750 personal property taxes.
  • $5,750 real estate taxes.

How much are they eligible to deduct for taxes paid on Schedule A, Itemized Deductions?

$10,000

$11,300

$11,450

$12,200 

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