Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Please show how you got your work. Also, please follow the format. Thank you. Joyce is a single, cash-method taxpayer. On April 11, 2018, Joyce

image text in transcribed
Please show how you got your work. Also, please follow the format. Thank you.
Joyce is a single, cash-method taxpayer. On April 11, 2018, Joyce paid $130 in state Income taxes with her 2017 state Income tax return. During 2018. Joyce had $1,200 in state income taxes withheld. On April 13, 2019. Joyce paid $230 with her 2018 state tax return. During 2019, she had $2,000 in state income taxes withheld from her paycheck. Upon filing her 2019 tax return on April 15, 2020, she received a refund of $450 for excess state income taxes withheld. Joyce had total AGI in 2019 and 2020 of $55.000 and $57,100. respectively. In 2019, Joyce also paid $10.900 in qualified residence interest (Click the icon to view the standard deduction schedule.) Read the requirements. Requirement a. What is the amount of state income taxes Joyce may include as an itemized deduction for 2018? First select the appropriate labels and then calculate the 2018 itemized deduction for state income taxes. (If an input field is not used in the table leave the input field(s) empty, do not select a label or enter a zero.) 2018 itemized deduction for state income taxes Requirement b. What is Joyce's allowed itemized deduction for state income taxes for 2019? First select the appropriate labels and then calculate the 2019 itemized deduction for state income taxes. If an input field is not used in the table leave the input field(s) amply, do not select a label or enter a zero) 2019 itemized deduction for state income taxes table leave the input field(1) emply do not selecta Requirement c. What is Joyce's taxable income for 2019? (If an input field is not ut label or enter a zero.) Minus: Deductions from AGI: Taxable income Joyce is a single, cash-method taxpayer. On April 11, 2018, Joyce paid $130 in state Income taxes with her 2017 state Income tax return. During 2018. Joyce had $1,200 in state income taxes withheld. On April 13, 2019. Joyce paid $230 with her 2018 state tax return. During 2019, she had $2,000 in state income taxes withheld from her paycheck. Upon filing her 2019 tax return on April 15, 2020, she received a refund of $450 for excess state income taxes withheld. Joyce had total AGI in 2019 and 2020 of $55.000 and $57,100. respectively. In 2019, Joyce also paid $10.900 in qualified residence interest (Click the icon to view the standard deduction schedule.) Read the requirements. Requirement a. What is the amount of state income taxes Joyce may include as an itemized deduction for 2018? First select the appropriate labels and then calculate the 2018 itemized deduction for state income taxes. (If an input field is not used in the table leave the input field(s) empty, do not select a label or enter a zero.) 2018 itemized deduction for state income taxes Requirement b. What is Joyce's allowed itemized deduction for state income taxes for 2019? First select the appropriate labels and then calculate the 2019 itemized deduction for state income taxes. If an input field is not used in the table leave the input field(s) amply, do not select a label or enter a zero) 2019 itemized deduction for state income taxes table leave the input field(1) emply do not selecta Requirement c. What is Joyce's taxable income for 2019? (If an input field is not ut label or enter a zero.) Minus: Deductions from AGI: Taxable income

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Advances In International Accounting Volume 20

Authors: J. Timothy Sale

1st Edition

0762313994, 9780762313990

More Books

Students also viewed these Accounting questions

Question

A service window closes just as they get to the front of the line.

Answered: 1 week ago