Question
When the Mortage Interest Credit is claimed on the federal return, what adjustment is made on the California return? a.) the amount claimed on the
When the Mortage Interest Credit is claimed on the federal return, what adjustment is made on the California return?
a.) the amount claimed on the federal return is reported as an adjustemnt to income on the California return.
b.) the Mortgage Interest Credit claimed on the federal return has no effect on the California return.
c.) their is no Mortage Interest Credit allowed on the Califronia return, however, the taxpayer who claimed the credit on the federal return may have an addition to itemized deductions on the California return.
d,) When the Mortgage Interest Credit is claimed on the federal return there will also be a credit on the California return.
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