Ask Question
BusinessBusiness
5 July, 02:47

Justin and jenna had a state refund of $160. should this amount be included on their tax return as income in 2017?

+4
Answers (1)
  1. 5 July, 06:21
    0
    No it shouldn't.

    Tax return represent the amount of that is cut excessively in this current year and given back to you by the Federal Government ...

    Since it's already calculated based on your current year of income, it no longer need to be included for your next year's calculation.
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Justin and jenna had a state refund of $160. should this amount be included on their tax return as income in 2017? ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
For someone staring a small business a business plan is
Answers (1)
On January 1, Power House Co. prepaid the annual rent of $15,400. Required: Prepare the journal entry to record this transaction on January 1. Refer to the Chart of Accounts for exact wording of account titles.
Answers (1)
Morgan Company acquires all of the outstanding shares of Jennings, Inc., for cash. Morgan transfers consideration more than the fair value of the companyâs net assets.
Answers (1)
Can anyone figure this out with a file link Download xlsx xlsx docx
Answers (1)
A company had credit sales of $30,000 and cash sales of $10,000 during the month of may. also during may, the company paid wages of $12,000 and utilities of $1,800. it also received payments from customers on account totaling $4,000.
Answers (1)
New Questions in Business
Which education level has the highest return on investment (ROI) ? A) High School Diploma B) Bachelor's Degree (4 years of college) C) Senior in High School D) ROI is equal for all of the above.
Answers (1)
In 2019, Meghann Carlson, a single taxpayer, has QBI of $129,100 and modified taxable income of $103,280 (this is also her taxable income before the QBI deduction). Given this information, what is Meghann's QBI deduction
Answers (1)
Which of these is not a factor you need to consider when choosing a bank? a. The number of ATM machines b. Branch locations c. How often you need access to your money d. The amount of money you paid in income taxes last year
Answers (1)
A margin of safety of 30% means that every dollar in revenue generated thirty cents in profit. A. True B. False
Answers (1)
Which of the following groups has the responsibility for identifying and deciding the appropriate accounting treatment for recording or disclosing contingent liabilities? A) Auditors B) Legal counsel C) Management D) Management and the auditors
Answers (1)
Home » Business » Justin and jenna had a state refund of $160. should this amount be included on their tax return as income in 2017?
Sign Up Forgot Password?