who benefits from deducting the amount paid in state income tax from their income for purposes of computing…
who benefits from deducting the amount paid in state income tax from their income for purposes of computing federal income tax? a. those whose total itemized deductions (including state income tax) is above their standard deduction. b. only those who can take advantage of the standard deduction. c. everyone who must pay state income tax. d. no one is allowed to deduct state income tax.
Answer
Brief Explanations:
Tax - payers can only benefit from deducting state income tax from federal income tax if their total itemized deductions (including state income tax) exceed their standard deduction. This is a common rule in tax - filing to optimize tax liability.
Answer:
A. Those whose total itemized deductions (including state income tax) is above their standard deduction.