Thursday, November 7, 2019

If Susan overpays her state income tax because of excess​ withholdings, can she deduct the entire amount in the year​ withheld

If Susan overpays her state income tax because of excess withholdings, can she deduct the entire amount in the year withheld? When Susan receives a refund from the state how must she treat that refund for tax purposes?


QI:7-14


QI:7-26
For individuals, what is the overall deduction limitation on charitable contributions? What is the limitation for corporations?


QI:7-28
How are charitable contribution deductions reported on the tax return for individuals? What reporting requirements must be met for the contribution of property?


QI:7-29
List some of the more common miscellaneous itemized deductions and identify any limitations that are imposed on the deductibility of these items.


No comments:

Post a Comment