Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Lyndon's employer withheld $8,700 in state income taxes from Lyndon's wages in 2021. Lyndon obtained a refund of $1,700 in this year for overpayment of
Lyndon's employer withheld $8,700 in state income taxes from Lyndon's wages in 2021. Lyndon obtained a refund of $1,700 in this year for overpayment of state income taxes for 2020. State income taxes were an itemized deduction on his 2020 return. His 2021 liability for state income tax is $8,500. Indicate the amount of Lyndon's deduction for state income taxes on his federal tax return assuming he elects to deduct state income taxes for 2021. $fill in the blank 1
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started