In: Accounting
In the 2019 tax year, Michelle paid the following amounts relating to her 2017 tax return: Tax deficiency $5,000 Negligence penalty 1,000 Interest 500 Underpayment of the estimated tax penalty 350 Which of the above items may be deducted on Michelle’s 2019 individual income tax return? Explain
!!!response should be 200 words or more!!!