Tom and Betsy, who are married filing jointly, reported a standard deduction of $11,400 on their 2010 tax return. They paid $500 to the state for income taxes in 2010. In 2011, they received a $125 refund of state taxes paid in 2010. What is the amount that Tom and Betsy need to report on their 2011 tax return?
and for this one i'm doing 500 - 125 and i'm getting C as my answer but according to my teacher its WRONG