Myrna and Geoffrey filed a joint tax return in 2016. Their AGI was $85,000, and itemized deductions
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Myrna and Geoffrey filed a joint tax return in 2016. Their AGI was $85,000, and itemized deductions were $13,700, which included $4,000 in state income tax. In 2017, they received a $1,800 refund of the state income taxes they paid in 2016. The standard deduction for married filing jointly in 2016 was $12,600. Under the tax benefit rule, what amount of the state income tax refund is included in gross income in 2017?
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Related Book For
South-Western Federal Taxation 2018 Comprehensive
ISBN: 9781337386005
41st Edition
Authors: David M. Maloney, William H. Hoffman, Jr., William A. Raabe, James C. Young
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