Question

In the 2014 tax year, Michelle paid the following amounts relating to her 2012 tax return:
Tax deficiency............... $5,000
Negligence penalty............................. 1,000
Interest................. 500
Underpayment of estimated tax penalty.... 350
What amount of the above items may be deducted on Michelle’s 2014 individual income tax return? $ ___________
Explain
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  • CreatedJuly 16, 2015
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