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Problem - Decision Making Critical Thinking Communications, During the current year, Robert pays the following amounts associated with his own residence:
Property taxes $3,000
Mortgage interest 8,000
Repairs 1,200
Utilities 2,700
Replacement of roof 4,000
In addition, Robert paid $1,500 of property taxes on the home that is owned and used by Anne, his daughter.
Required -
a. Which of these expenses can Robert deduct?
b. Can Anne deduct the $1,500 of property taxes?
c. Are the deductions for AGI or from AGI (itemized)?
d. How could the tax consequences be improved? Summarize your recommendation in an e-mail, and send it to your instructor.
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