Ruth, who files as single, reported itemized deductions of $12,300 on her 2018 tax return.

Ruth, who files as single, reported itemized deductions of $12,300 on her 2018 tax return. Her itemized deductions included $400 of state taxes paid. In 2019, she received a $275 refund of state taxes paid in 2018. What is the amount that Ruth needs to report on her 2019 tax return?

A) $400. B) $275. C) $300. D) $0.

Solutions

Expert Solution

Correct Answer is B. $275

Itemized deductions in 2018 - $12300

Standard deductions in 2018 - Itemized deduction - Refund received

$12025 ($12300-$275)

Amount reported in 2019 Tax return = $12300- $12025

= $275.

ekkarill92 answered 1 year ago

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