In the 2019 tax year, Michelle paid the following amounts relating to her 2017 tax return: Tax
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In the 2019 tax year, Michelle paid the following amounts relating to her 2017 tax return:
Tax deficiency....................................................$5,000
Negligence penalty..............................................1,000
Interest.....................................................................500
Underpayment of estimated tax penalty.............350
Which of the above items may be deducted on Michelle’s 2019 individual income tax return? Explain
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Related Book For
Income Tax Fundamentals 2020
ISBN: 9780357108239
38th Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven Gill
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