Cindy paid $12,000 SALT in 2020 and claimed a total of $15,000 itemized deduction in 2020 return.
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Question:
Cindy paid $12,000 SALT in 2020 and claimed a total of $15,000 itemized deduction in 2020 return. In 2021, Cindy received a state income tax refund of $750. How much of the refund, if any, must Cindy include in her 2021 gross income (2020 standard deduction is 12400)?
A.
$0
B.
$750
C.
$2,600
D.
$3,000
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date: