Friday
April 18, 2014

Homework Help: tax income

Posted by Billy on Friday, March 2, 2012 at 6:54pm.

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?
A. $0
B. $125
C. $375
D. $500

and for this one i'm doing 500 - 125 and i'm getting C as my answer but according to my teacher its WRONG

Answer this Question

First Name:
School Subject:
Answer:

Related Questions

Fundamentals of Taxation - Tom and Betsy who are married filing jointly, ...
tax income - Tom and Betsy, who are married filing jointly, reported a standard ...
tax income - The taxpayer's spouse died at the beginning of 2010. He has no ...
Tax Intro - The taxpayer's spouse died at the beginning of 2010. He has no ...
math - Find the taxes for the following using the appropriate Tax Rate Schedule ...
Finance - The Jacksons, a family of two adults and two dependent children under ...
Personal Finance - The Lees, a family of two adults and two dependent children ...
Accounting - If Tom, an accountant, agrees to provide accounting services to ...
Finance - How much is the standard deduction for 2008 married filing jointly on ...
business - Most people pay federal income tax by: A. paying the total amount ...

Search
Members