08135 xNew Tab Corner omework Help Save Required informatio

$0.8135 x\\New Tab Corner omework Help Save & Required information The following information applies to the questions displayed belowj L. A. and Paula file as married taxpayers. In August of this year, they received a $5,320 refund of state income taxes that they paid last year How much of the refund, if any, must L. A and Paula include in gross income under the following independent scenarios? Assume the standard deduction last year was $12.600(Leave no answer blank, Enter zero if applicable b. Last year L. A. and Paula claimed itemized deductions of $24,300. Their itemized deductions included state income taxes paid of $9,480. Rofund to be included of 2B MacBook Air F3 3 4 5

Solution

Question 1. b). Answer :- Refund to be included in gross income of L.A. and Paula = $ 5320.

Question 1. c). Answer :- Refund to be included in gross income of L.A. and Paula = 17850 - 12600

= $ 5250.

Question 2). Solution :- Calculation of amount to be included in gross income of Anne :-

= 24000 - (24000 * 176400 / 240000)

= 24000 - 17640

= $ 6360.

Conclusion :- Amount to be included in gross income of Anne = $ 6360.