Each of the following taxpayers received a state income tax refund in 2017. In all cases, the
Question:
Each of the following taxpayers received a state income tax refund in 2017. In all cases, the taxpayer has a filing status of married filing jointly. What amount of the refund is properly included in 2017 income?
a. Refund of $729; taxpayer did not itemize deductions in 2016.
b. Refund of $591; taxpayer had $13,220 of itemized deductions in 2016.
c. Refund of $927; taxpayer had itemized deductions of $13,000 in 2016.
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a None of the refund is taxable b The entire 591 refund is taxable c The ...View the full answer
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Related Book For 
Fundamentals Of Taxation 2018
ISBN: 9781259713736
11th Edition
Authors: Ana M. Cruz Dr., Michael Deschamps, Frederick Niswander, Debra Prendergast, Dan Schisler
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