I got $0 for questions 1,2 are NOT correct, can you help me correct and explain it? tks 1). Jamie is single and shops online for household purchases such as televisions and computer equipment for personal use. This year Jamie purchased $12,330 of items each above $1,000 and $750 of items each below $1,000 from out of state retailers. Jamie sales tax rate area is 8.25% and he paid $3 of sales and use tax to other states. Jamie applies 75% of any refund to next year’s tax liability. This year’s Form 540 had the following amounts: Adjusted gross income $187,628 Total tax $ 8,092 Total payments                $ 10,113 What is the amount that will be "Applied to Next Year" reported on Form 540, line 98? $0 $242 $744 $968 2). Jamie is single and shops online for household purchases such as televisions and computer equipment for personal use. This year Jamie purchased $12,330 of items each above $1,000 and $750 of items each below $1,000 from out of state retailers. Jamie sales tax rate area is 8.25% and he paid $3 of sales and use tax to other states. Jamie applies 75% of any refund to next year’s tax liability. This year’s Form 540 had the following amounts: Adjusted gross income $187,628 Total tax $ 8,092 Total payments                $ 10,113 What is the amount of "Overpaid Tax Available this Year" reported on Form 540, line 99? $0 $248 $726 $968 3). Jamie is single and shops online for household purchases such as televisions and computer equipment for personal use. This year Jamie purchased $12,330 of items each above $1,000 and $750 of items each below $1,000 from out of state retailers. Jamie sales tax rate area is 8.25% and he paid $3 of sales and use tax to other states. Jamie applies 75% of any refund to next year’s tax liability. This year’s Form 540 had the following amounts: Adjusted gross income $187,628 Total tax $ 8,092 Total payments                $ 10,113 What is the amount of "Tax Due" reported on Form 540, line 100? $0 $242 $726 $968

CONCEPTS IN FED.TAX.,2020-W/ACCESS
20th Edition
ISBN:9780357110362
Author:Murphy
Publisher:Murphy
Chapter2: Income Tax Concepts
Section: Chapter Questions
Problem 18P
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I got $0 for questions 1,2 are NOT correct, can you help me correct and explain it? tks

1). Jamie is single and shops online for household purchases such as televisions and computer equipment for personal use. This year Jamie purchased $12,330 of items each above $1,000 and $750 of items each below $1,000 from out of state retailers. Jamie sales tax rate area is 8.25% and he paid $3 of sales and use tax to other states. Jamie applies 75% of any refund to next year’s tax liability. This year’s Form 540 had the following amounts:

Adjusted gross income $187,628

Total tax $ 8,092

Total payments                $ 10,113

What is the amount that will be "Applied to Next Year" reported on Form 540, line 98?

$0

$242

$744

$968

2). Jamie is single and shops online for household purchases such as televisions and computer equipment for personal use. This year Jamie purchased $12,330 of items each above $1,000 and $750 of items each below $1,000 from out of state retailers. Jamie sales tax rate area is 8.25% and he paid $3 of sales and use tax to other states. Jamie applies 75% of any refund to next year’s tax liability. This year’s Form 540 had the following amounts:

Adjusted gross income $187,628

Total tax $ 8,092

Total payments                $ 10,113

What is the amount of "Overpaid Tax Available this Year" reported on Form 540, line 99?

$0

$248

$726

$968

3). Jamie is single and shops online for household purchases such as televisions and computer equipment for personal use. This year Jamie purchased $12,330 of items each above $1,000 and $750 of items each below $1,000 from out of state retailers. Jamie sales tax rate area is 8.25% and he paid $3 of sales and use tax to other states. Jamie applies 75% of any refund to next year’s tax liability. This year’s Form 540 had the following amounts:

Adjusted gross income $187,628

Total tax $ 8,092

Total payments                $ 10,113

What is the amount of "Tax Due" reported on Form 540, line 100?

$0

$242

$726

$968

 

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