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n 2023, Bruce, a single, cash basis taxpayer, took a $3,000 itemized deduction for state income taxes paid. The deduction was not limited by the
n 2023, Bruce, a single, cash basis taxpayer, took a $3,000 itemized deduction for state income taxes paid. The deduction was not limited by the SALT cap. His total itemized deductions in 2023 were $18,200. In 2024, Bruce received a $400 refund when he filed his 2023 state income tax return. How much of his refund must Bruce include in his gross income for 2024
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Survey of Accounting
Authors: Thomas P. Edmonds, Frances M. McNair, Philip R. Olds, Bor Yi
3rd Edition
978-1259683794, 77490835, 1259683796, 9780077490836, 978-0078110856
