Question
Hannah is a California taxpayer. She is retired and receives a pension payment of $1,000 during 2017, and then in 2018 receives a letter from
Hannah is a California taxpayer. She is retired and receives a pension payment of $1,000 during 2017, and then in 2018 receives a letter from the pension administrator informing her that an internal audit of the pension computer system revealed that the administrator made a mistake and overpaid the $1,000 benefit in 2017. As such, they now want Hannah to repay (the $1,000 overpayment) by writing a check back to the pension plan in 2018. Under Section 1341, Claim of Right, Hannah is entitled to claim a deduction for what amount of the overpayment on her California income tax return for tax year 2018? Group of answer choices
$500 $600 $1,000 $3,000
Step by Step Solution
There are 3 Steps involved in it
Step: 1
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-text-image.webp)
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-subtext-image.webp)
Step: 3
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-subtext-image.webp)
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started