Reference no: EM131255187
L. A. and Paula file as married taxpayers. In August of this year, they received a $6,920 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. Please show steps
a. Last year L. A. and Paula claimed itemized deductions of $25,700. Their itemized deductions included state income taxes paid of $7,600.
b. Last year L. A. and Paula claimed itemized deductions of $17,450. Their itemized deductions included state income taxes paid of $12,650.
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Assuming that nop stock is classified as trading security
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Assume the standard deduction last year
: L. A. and Paula file as married taxpayers. In August of this year, they received a $6,920 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 independ..
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Calculated parametric estimate and analogous cost estimate
: Given the following information, calculate the bottom-up estimated costs for a wedding with 250 guests and a bridal party of six, using the methods indicated. If you had calculated Parametric estimate and Analogous cost estimate, would there have bee..
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