which of the following is a deductible tax 612745
Which of the following is a deductible tax?
a. Incorrect. Homeowner”s association fees are not considered a real estate tax, because they are not based on the assessed value of the property or used for the general community or a governmental purpose and so are not deductible.
b. Correct. A tenant-shareholder can deduct his or her share of real property taxes paid by a cooperative housing corporation.
c. Incorrect. Fines are nondeductible payments.
d. Incorrect. An employee cannot deduct his or her share of FICA withheld from wages.