In April 2022, Ellis, a calendar year cash basis taxpayer, paid the state of Kansas additional income tax for 2021. Since it relates to 2021, for Federal income tax purposes the payment qualifies as tax deduction for tax year 2021. True False
In April 2022, Ellis, a calendar year cash basis taxpayer, paid the state of Kansas additional income tax for 2021. Since it relates to 2021, for Federal income tax purposes the payment qualifies as tax deduction for tax year 2021. True False
Chapter4: Managing Income Taxes
Section4.2: Eight Steps In Calculating Your Income
Problem 6CC
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Transcribed Image Text:In April 2022, Ellis, a calendar year cash basis taxpayer, paid the state of Kansas additional income tax for 2021. Since it relates to 2021, for Federal income tax purposes the
payment qualifies as tax deduction for tax year 2021. True False
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ISBN:
9780357109731
Author:
Hoffman
Publisher:
CENGAGE LEARNING - CONSIGNMENT