Question
During 2021, Cardi B's employer withheld $4,000 from her wages for state income tax. Cardi B claimed the $6,000 as an itemized deduction on her
During 2021, Cardi B's employer withheld $4,000 from her wages for state income tax. Cardi B claimed the $6,000 as an itemized deduction on her 2021 federal income tax return. Her total itemized deductions for 2021 were $35,000. Cardi B's taxable income for 2022 was $200,000. Cardi B received the $2,000 as a refund from the state during 2022. What amount must Cardi B include in income in 2022?
| A. | $0 | |
| B. | $2,000 | |
| C. | $3,000 | |
| D. | $4,000 | |
| E. | $6,000 |
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Financial Accounting
Authors: Bev Vickerstaff, Parminder Johal
1st Edition
1444170414, 978-1444170412
