RIA Federal Tax Handbook 2007

RIA Federal Tax Handbook 2007

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An individual generally may deduct taxes only if he itemizes (on Schedule A of Form 1040). ... But deduction is allowed, to the extent taxpayer shows the assessment is properly allocable to maintenance or interest charges. ... Thus, a shareholder cana#39;t deduct his payment of the corporationa#39;s taxes, or vice versa. ia Property taxes are ordinarily imposed on, and so are deductible by, the property owner.

Title:RIA Federal Tax Handbook 2007
Author:Research Institute of America
Publisher: - 2006-11


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