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During 2016,Mark's employer withheld $2,000 from his wages for state income tax.Mark claimed the $2,000 as an itemized deduction on his 2016 federal income tax return.His total itemized deductions for 2016 were $9,000.Mark's taxable income for 2016 was a negative $20,000 due to substantial business losses.Mark received the $2,000 as a refund from the state during 2017.What amount must Mark include in income in 2017?
Midlife Crisis
A psychological and emotional phase that some individuals experience during middle age, often marked by self-reflection, life evaluation, and a desire for change.
Career Shift
The process of changing one's professional path or occupation to pursue a different career, often due to dissatisfaction or better opportunities.
Self-Reflection
The act of examining and contemplating one’s own behaviors, attributes, and beliefs.
Life Review
A therapeutic process often used in counseling the elderly, where individuals reflect on their past achievements and failures, leading to increased self-understanding and acceptance.
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