H and W are married and always file a joint return. In 2020, they received a refund
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H and W are married and always file a joint return. In 2020, they received a refund of California income tax totaling $4,000 related to their 2019 return. Although they used the standard deduction on their federal 2019 return, they paid California income tax of $6,000 for that year. Their AGI for the 2019 federal return was $100,000. Given this information, calculate the amount of income H and W should report on their 2020 federal tax return related to the California income tax refund.
Related Book For
Federal Taxation 2016 Comprehensive
ISBN: 9780134104379
29th edition
Authors: Thomas R. Pope, Timothy J. Rupert, Kenneth E. Anderson
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