October 10, 2015

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

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