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Business, 01.12.2021 05:00 orlando19882000
Pierre, a cash basis, unmarried taxpayer, had $2,810 of state income tax withheld during 2020. Also in 2020, Pierre paid $703 that was due when he filed his 2019 state income tax return and made estimated payments of $1,967 towards his 2020 state income tax liability. When Pierre files his 2020 Federal income tax return in April 2021, he elects to itemize deductions, which amount to $17,900, including the state income tax payments and withholdings, all of which reduce his taxable income. a. What is Pierre's 2020 state income tax deduction
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Pierre, a cash basis, unmarried taxpayer, had $2,810 of state income tax withheld during 2020. Also...
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