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Myrna and Geoffrey filed a joint tax return in 2016. Their AGI was $97,325, and itemized deductions were $17,200, which included $13,760 in state income
Myrna and Geoffrey filed a joint tax return in 2016. Their AGI was $97,325, and itemized deductions were $17,200, which included $13,760 in state income tax. In 2017, they received a $8,256 refund of the state income taxes that they paid in 2016. The standard deduction for married filing jointly in 2016 was $12,600.
Under the tax benefit rule, $_____ of the state income tax refund is included in gross income in 2017.
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