Final answer:
Sales tax, property tax, and income tax can be deducted from AGI as itemized deductions. Excise tax is not deductible as it is not directly paid by the consumer.
Step-by-step explanation:
Out of the types of taxes listed, the ones that may be deducted from Adjusted Gross Income (AGI) as itemized deductions are 1) Sales tax, 2) Property tax, and 3) Income tax. Excise taxes, however, are not deductible as they are imposed on the production, sale, or consumption of goods and are not directly paid by the consumer. Deducting these taxes can affect your personal income and potentially lower your tax liability depending on the rules set forth by the Internal Revenue Service (IRS).
Each type of tax has its own set of regulations and impacts your income in different ways. For example, property taxes are often based on the assessed value of personal property or real estate, whereas income taxes are levied on your earned income and can be at the federal, state, or local levels. It's important to understand these distinctions when filing taxes to maximize potential deductions and minimize your overall tax burden.