Frank and Liz are married. During 2017, Frank has $2,800 in state income taxes withheld from his
Question:
Frank and Liz are married. During 2017, Frank has $2,800 in state income taxes withheld from his paycheck, and Liz makes estimated tax payments totaling $2,200. In May 2018, they receive a state tax refund of $465. What is the proper tax treatment of the refund in 2018 if
a. They use the standard deduction?
b. They have itemized deductions other than state income taxes of $8,100?
c. They have itemized deductions other than state income taxes of $7,800?
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Related Book For
Concepts In Federal Taxation 2018
ISBN: 9781337386074
25th Edition
Authors: Kevin E. Murphy, Mark Higgins
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