Itemized deductions last year, Accounting Basics

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Itemized deductions last year

This year Mary received a $200 refund of state income taxes that she deducted on her tax return last year. Mary included a total of $4,000 of state income taxes when she itemized deductions last year. What amount of the refund, if any, should Mary include in her gross income this year?

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Accounting Basics: Itemized deductions last year

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Accounting Basics: Itemized deductions last year

Reference No:- TGS043820

Have a Question? (oR Write a Review)

Recent Questions Asked Accounting Basics

Q : Recent issuance of long-term bonds

Q : Calculate vincent gross income for year

Q : How are infections of upper respiratory tract

Q : Semiannual interest from the bonds

Q : Itemized deductions last year

Q : Highest aftertax income for the shareholders

Q : Medicare contribution tax liability

Q : Four conditions that can create capital lease

Q : Amount of revenue pacific should recognize

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Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: Itemized deductions last year

Reference No:- TGS043820

Recent Questions Asked Accounting Basics

Q : Recent issuance of long-term bonds

Q : Calculate vincent gross income for year

Q : How are infections of upper respiratory tract

Q : Semiannual interest from the bonds

Q : Itemized deductions last year

Q : Highest aftertax income for the shareholders

Q : Medicare contribution tax liability

Q : Four conditions that can create capital lease

Q : Amount of revenue pacific should recognize

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