1)Jamison's gross tax liability is $9,550. Jamison had $2,800 of available credits and he had $6,250 of taxes withheld by his employer. What are Jamison's taxes due (or taxes refunded) with his tax return?

$500 taxes due

$500 tax refund

$6,750 taxes due

$3,300 taxes due

2)

A taxpayer must own a capital asset for more than one year for the gain or loss on the sale of the asset to be long-term.

True or false?

3)

Which of the following is not an itemized deduction?

State income taxes

Alimony paid

Real estate taxes

Medical expenses