Question:
ok Tim is a single cash method taxpayer with an AGI of 50
Last updated: 3/3/2024
ok Tim is a single cash method taxpayer with an AGI of 50 000 In April of this year Tim paid 740 with his state income tax return for the previous year During the year Tim had 4 200 of state income tax and 15 300 of federal income tax withheld from his salary In addition Tim made estimated payments of 1 020 and 1 540 for state and federal income taxes respectively Finally Tim expects to receive a refund of 380 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 Deductible taxes