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Mathematics, 02.04.2020 02:16 Trinhphuongtran

Calvin miscalculated his income in 2017 and overpaid his state income tax by $10,000. In 2018, he amended his 2017 state income tax return and received a $10,000 refund and $900 interest. Calvin itemized his deductions in 2017, deducting $12,000 in state income tax and $30,000 total itemized deductions (in 2017, individuals were not limited to a $10,000 state tax deduction when they itemized deductions). As a result of the amended return in 2018, Calvin must recognize $10,900 of gross income.

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Calvin miscalculated his income in 2017 and overpaid his state income tax by $10,000. In 2018, he am...
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