Bred, who uses the cash method of accounting, lives in a state that imposs an in

Question

Bred, who uses the cash method of accounting, lives in a state that imposs an income tax (including withholding from wages). On april 14, 2015, he fails his state return for 2014, paying an additional $600 in state income taxes. During 2015, his withholding for state income tax purposes amount to $3,550. If he itemizes deduction , how much may Bred claim as a deduction for state income texes on his federal income tax return for calendar year 2015 (failed in April 2016)? $3,350 $3,550 $4,150 $5,150

Explanation / Answer

c) $4150

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