ACC 456 STUDY Extraordinary Success/acc456study.com ACC 456 STUDY Extraordinary Success/acc456study. | Page 18

income taxes, $2,000 for state income taxes, and $3,800 for FICA from
her 2015 paychecks. Dawn purchased a new car and paid $600 in
sales tax and $70 for the license. The car’s FMV was $20,000 and it
weighed 3,000 pounds. The county also assessed a property tax on the
car. The tax was 2% of the car’s value and $10 per hundredweight.
Dawn uses the car 100% of the time for personal purposes. Dawn sold
her house on April 15, 2015. The county’s property tax on the home
for 2015 is $1,850, payable on February 1, 2015. The county’s real
property tax year is the calendar year. Dawn’s AGI for 2015 is $50,000
and her other itemized deductions exclusive of taxes are $4,000
(disregard any leap year).
·
a.What is Dawn’s deduction for taxes in 2015?
·
b.Where on Dawn’s tax return should she report her deduction
for taxes?
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ACC 456 Week 3 Short Response (4-13, 4-15 6-1, 6-13, 6-20,
7-31, 7-32)
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Write your responsesto the following questions in 45-to 90- words
each:
Chapter4: I:4-13 ,I:4-15, and I;6-1