QUESTION 16 Last year, Noor reported $13,500 in itemized deductions including $6,500 of state income taxes paid (his standard deduction was $12,400). In March of this year, Noor received a $2,000 refund of the state income taxes paid last year. How much of the refund should be included in Noor's gross income this year? 5 points Save Answer QUESTION 17 Jake Thornton sold stock for $20,000 that he had purchased for $25,000 and held in a regular account for several years. Jake also received $2,500 in dividends from Stock ABC held in a regular account and $1,000 in dividends from Stock XYZ held in a qualified retirement account. How do these items affect his taxable income for the year (do not enter a $ sign, and clearly indicate with a negative sign if it is a loss): Ordinary Income: Income taxed at preferential rate: 10 points Save Answer