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| Teaching Since: | May 2017 |
| Last Sign in: | 401 Weeks Ago, 2 Days Ago |
| Questions Answered: | 66690 |
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MCS,PHD
Argosy University/ Phoniex University/
Nov-2005 - Oct-2011
Professor
Phoniex University
Oct-2001 - Nov-2016
State and Local Income Taxes. (Obj. 3) In April, 2014, Jose filed his 2013 federal and state income tax returns. He paid $800 with his federal return and $450 when he filed his state income tax return. During 2014, Jose’s employer withheld $6,600 and $3,100, respectively for federal and state income taxes. Jose files as single
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a. What amount can Jose deduct as an itemized deduction on his 2014 tax return?
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b. When Jose files his 2014 tax returns early in 2015, he receives a $90 refund from the federal government and $120 back from the state. Discuss the tax consequences to Jose of receiving refunds totaling $210. Jose’s other itemized deductions in 2014 totaled $3,150.
c. Same as in Part b. except that Jose’s other itemized deductions total $1,000
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