What amount of the refund

Assignment Help Accounting Basics
Reference no: EM13121091

Grace deducted $2,400 of state income taxes on her tax return last year. This year she received a state income tax refund of $170. What amount of the refund, if any, should Grace include in her gross income if last year her total itemized deductions exceeded the standard deduction by $350?

Reference no: EM13121091

Questions Cloud

Formula for measuring earthquakes : What is the formula for measuring earthquakes? Why is a 7.0 earthquake ten times stronger than a 6.0 earthquake?
Explain the difference between mutually exclusive : Explain the difference between mutually exclusive and independent events. Can a pair of events be both mutually exclusive and independent? Give examples.
Determine the equilibrium concentration of pb2+ : A pipette is used to add 32 mL of 0.2 M Pb(NO3)2 to a 261.0 mL solution of 0.3 M NaF. Determine the equilibrium concentration of Pb2+(aq) in the final solution. Ksp(PbF2)=3.6E-8.
Bluebirds deemed paid foreign tax credit : What is Bluebird's deemed paid foreign tax credit related to the dividend received (before consideration of any limitation)?
What amount of the refund : What amount of the refund, if any, should Grace include in her gross income if last year her total itemized deductions exceeded the standard deduction by $350?
Commonly confused word : Identify those with errors by marking each of the errors in bold. Make the correction in parentheses after the error. For those that are correct, write correct at the end of the sentence.
What is the percent of scores be outstanding : A standard deviation of 68. a score is considered outstanding if it is at least 420. what is the % of the scores would be outstanding?
What amount of the refund : What amount of the refund, if any, should Grace include in her gross income if last year her total itemized deductions exceeded the standard deduction by $350?
Find the number of defective items : Suppose that a batch of 100 items contains 6 that are defective and 94 that are nondefective. If X is the number of defective items

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd