In 2013, Rebecca and Gregory, a married couple filing a joint return, reported adjusted gross income of

Question:

In 2013, Rebecca and Gregory, a married couple filing a joint return, reported adjusted gross income of $70,000 and total allowable itemized deductions of $12,800, which included state income taxes paid of $3,100. They received a $900 refund of state income taxes in April 2014. How much of the state income tax refund must they include in income and in which year do they include it?
Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Taxation For Decision Makers 2014

ISBN: 9781118654545

6th Edition

Authors: Shirley Dennis Escoffier, Karen Fortin

Question Posted: