Kevin is a single person who earns $70,000 in salary for 2014 and has other income from a variety of investments,as follows:
Kevin received tax refunds when he filed his 2013 tax returns in April of 2014.His federal refund was $600 and his state refund was $300.Kevin claimed the $300 state tax overpayment as an itemized deduction on his 2013 return. Due to changes in circumstances,Kevin is not itemizing deductions on his 2014 return.
Compute Kevin's taxable income for 2014.

Question

Kevin is a single person who earns $70,000 in salary for 2014 and has other income from a variety of investments,as follows:
  Kevin received tax refunds when he filed his 2013 tax returns in April of 2014.His federal refund was $600 and his state refund was $300.Kevin claimed the $300 state tax overpayment as an itemized deduction on his 2013 return. Due to changes in circumstances,Kevin is not itemizing deductions on his 2014 return.
Compute Kevin's taxable income for 2014.

Quizplus · Accepted Answer

The Answer of Kevin is a single person who earns $70,000 in salary for 2014 and has other income from a variety of investments,as follows:
  Kevin received tax refunds when he filed his 2013 tax returns in April of 2014.His federal refund was $600 and his state refund was $300.Kevin claimed the $300 state tax overpayment as an itemized deduction on his 2013 return. Due to changes in circumstances,Kevin is not itemizing deductions on his 2014 return.
Compute Kevin's taxable income for 2014.

Kevin Is a Single Person Who Earns $70,000 in Salary