Liam deducted $7,000 of state income taxes on his return las…
Liam deducted $7,000 of state income taxes on his return last year. This year he received a state income tax refund of $1,200. What amount of the refund, if any, should Liam include in his gross income if last year his total itemized deductions exceeded the standard deduction by $2,000?
Read Details