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Which of the above items may be deducted on income tax

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Reference no: EM132702799

Problem - In the 2018 tax year, Michelle paid the following amounts relating to her 2016 tax return:

Tax deficiency $5,000

Negligence penalty 1,000

Interest 500

Underpayment of estimated tax penalty 350

Required - Which of the above items may be deducted on Michelle's 2018 individual income tax return?

Reference no: EM132702799

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