Lyndons employer withheld $8,700 in state income taxes from Lyndons wages in 2022. Lyndon obtained a refund

Question:

Lyndon’s employer withheld $8,700 in state income taxes from Lyndon’s wages in 2022. Lyndon obtained a refund of $1,700 this year for overpayment of state income taxes for 2021. State income taxes were an itemized deduction on his 2021 return. His 2022 liability for state income tax is $8,500. Indicate the amount of Lyndon’s deduction for state income taxes on his federal tax return assuming he elects to deduct state income taxes for 2022.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Income Tax Fundamentals 2023

ISBN: 9780357719527

41st Edition

Authors: Gerald E. Whittenburg, Steven Gill

Question Posted: