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Levels Tought:
Elementary,Middle School,High School,College,University,PHD
| Teaching Since: | May 2017 |
| Last Sign in: | 401 Weeks Ago, 1 Day Ago |
| Questions Answered: | 66690 |
| Tutorials Posted: | 66688 |
MCS,PHD
Argosy University/ Phoniex University/
Nov-2005 - Oct-2011
Professor
Phoniex University
Oct-2001 - Nov-2016
Tim is a single, cash-method taxpayer with one personal exemption and an AGI of $48,000. In April of this year Tim paid $1,420 with his state income tax return for the previous year. During the year, Tim had $5,184 of state income tax and $17,520 of federal income tax withheld from his salary. In addition, Tim made estimated payments of $1,306 and $1,824 of state and federal income taxes, respectively. Finally, Tim expects to receive a refund of $480 for state income taxes when he files his state tax return for this year in April next year. What is the amount of taxes that Tim can deduct as an itemized deduction?
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