Frank is a resident of a state that imposes a tax on income.The following information pertaining to Frank's state income taxes is available: State income taxes withheld in $2013 \quad\quad \$ 3,500$
Refund of $2012 \operatorname { tax }$ received in $2013 \quad \quad \$ 400$
Deficiency assessed and paid in 2013 for 2011 :
$\operatorname { Tax } \quad \quad \$ 600$
Interest $\quad \$ 100$ What amount should Frank use as state and local income taxes in calculating itemized deductions for his 2013 Federal tax return,assuming he elects to deduct state and local income taxes?

Question

Frank is a resident of a state that imposes a tax on income.The following information pertaining to Frank's state income taxes is available: State income taxes withheld in $2013 \quad\quad  \$ 3,500$
Refund of $2012 \operatorname { tax }$ received in $2013 \quad \quad \$ 400$
Deficiency assessed and paid in 2013 for 2011 :
$\operatorname { Tax } \quad \quad \$ 600$
Interest $\quad \$ 100$ What amount should Frank use as state and local income taxes in calculating itemized deductions for his 2013 Federal tax return,assuming he elects to deduct state and local income taxes?

Quizplus · Accepted Answer

The Answer of Frank is a resident of a state that imposes a tax on income.The following information pertaining to Frank's state income taxes is available: State income taxes withheld in $2013 \quad\quad  \$ 3,500$
Refund of $2012 \operatorname { tax }$ received in $2013 \quad \quad \$ 400$
Deficiency assessed and paid in 2013 for 2011 :
$\operatorname { Tax } \quad \quad \$ 600$
Interest $\quad \$ 100$ What amount should Frank use as state and local income taxes in calculating itemized deductions for his 2013 Federal tax return,assuming he elects to deduct state and local income taxes?

Frank Is a Resident of a State That Imposes a Tax