- 10 Required information [The following information applies to the questions displayed below.] Louis files as a single taxpayer. In April of this year he received a $930 refund of state income taxes that he paid last year. How much of the refund, if any, must Louis include in gross income under the following independent scenarios? Assume the standard deduction last year was $12,950. Note: Leave no answer blank. Enter zero if applicable. a. Last year Louis claimed itemized deductions of $13,230. Louis's itemized deductions included state income taxes paid of $1,780 and no other state or local taxes. Refund to be included in gross income

- 10 Required information [The following information applies to the questions displayed below.] Louis files as a single taxpayer. In April of this year he received a $930 refund of state income taxes that he paid last year. How much of the refund, if any, must Louis include in gross income under the following independent scenarios? Assume the standard deduction last year was $12,950. Note: Leave no answer blank. Enter zero if applicable. a. Last year Louis claimed itemized deductions of $13,230. Louis's itemized deductions included state income taxes paid of $1,780 and no other state or local taxes. Refund to be included in gross income

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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