In an effort to improve the earthquake safety of his home, Perry Powell spends $500 to...
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In an effort to improve the earthquake safety of his home, Perry Powell spends $500 to anchor the water heater in his basement. He receives a $250 rebate from the California Residential Mitigation Program that was taxable on his Federal income tax return. Perry can exclude what amount of the rebate from his income on his California state income tax return? A. $0 B. $125 C. $250 D. $500 In an effort to improve the earthquake safety of his home, Perry Powell spends $500 to anchor the water heater in his basement. He receives a $250 rebate from the California Residential Mitigation Program that was taxable on his Federal income tax return. Perry can exclude what amount of the rebate from his income on his California state income tax return? A. $0 B. $125 C. $250 D. $500
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Entrepreneurship Successfully Launching New Ventures
ISBN: 978-0133797190
5th edition
Authors: Bruce R. Barringer, R. Duane Ireland
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