Solved

In April 2012, Bertie, a Calendar Year Cash Basis Taxpayer

Question 44

True/False

In April 2012, Bertie, a calendar year cash basis taxpayer, had to pay the state of Michigan additional income tax for 2011.Even though it relates to 2011, for Federal income tax purposes the payment qualifies as a tax deduction for tax year 2012.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q39: For all of 2012, Aaron (a calendar

Q40: Any personal expenditures not specifically allowed as

Q41: George is single, has AGI of $255,300,

Q42: In 2012, Shirley sold her personal residence

Q43: David, a single taxpayer, took out a

Q45: Virginia had AGI of $100,000 in 2012.

Q46: Antonio sold his personal residence to Mina

Q47: In the year of her death, Maria

Q48: If certain conditions are met, a buyer

Q49: Phyllis, a calendar year cash basis taxpayer