Gloria resides in a state that imposes a tax on income.The following information relates to Gloria's state income tax situation for 2014: Taxes withheld in 2014 $4,300
Refund received in 2014 of 2013 tax 700
Assessment paid in 2014 of 2012 tax 950
Assuming she elects to deduct state and local income taxes,what amount should Gloria use to calculate itemized deductions for her 2014 federal income tax return?
A)$ 0.
B)$3,600.
C)$5,250.
D)$5,950.

Question

Quizplus · Accepted Answer

Gloria can deduct the taxes withheld in 2014 ($4,300) and the assessment paid in 2014 for the 2012 tax ($950), totaling $5,250. The refund received in 2014 for the 2013 tax does not affect the 2014 deduction.

Gloria Resides in a State That Imposes a Tax on Income.The