In the 2014 tax year, Michelle paid the following amounts relating to her 2012 tax return: Tax
Question:
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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Related Book For
Income Tax Fundamentals 2015
ISBN: 9781305177772
33rd Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven Gill
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