Question options: Which of the following refunds would be taxable income under the tax benefit rule the
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Question options:
Which of the following refunds would be taxable income under the tax benefit rule
| the taxpayer received a refund because she was overcharged for a non-deductible fee |
| In 2019, the taxpayer received a state income tax refund of state income taxes paid in 2018. The taxpayer took the standard deduction and did not deduct income taxes on the taxpayer's US income tax return. |
| In 2019, a business taxpayer received a partial refund of health insurance premiums paid on behalf of employees in 2018. The taxpayer deducted these payments on the 2018 US income tax return. |
Related Book For
Income Tax Fundamentals 2020
ISBN: 9780357108239
38th edition
Authors: Gerald E. Whittenburg, Martha Altus-Buller, Steven Gill
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