What amount can belen deduct as property taxes

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Q1. During 2017, Belen paid the following taxes:

Property taxes on residence (paid from escrow account)$1,550Property tax portion of car registration (based on value) 400Property taxes on land held for long-term appreciation 350

What amount can Belen deduct as property taxes in calculating her itemized deductions for 2017?

$1,950.

$2,300.

$350.

$750.

Q2. During 2017, Manuel and Gloria, who are not married and live in Beverly Hills, incurred acquisition debt on their new residence of $2,150,000. On their individual tax returns, what is the amount of qualified acquisition debt on which they can each deduct interest?

$1,000,000.

$1,050,000.

$900,000.

$1,150,000.

Reference no: EM132149624

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