During 2013,Mark's Employer Withheld $2,000 from His Wages for State

question 41

Multiple Choice

During 2013,Mark's employer withheld $2,000 from his wages for state income tax.Mark claimed the $2,000 as an itemized deduction on his 2013 federal income tax return.His total itemized deductions for 2013 were $6,000.Mark's taxable income for 2013 was a negative $20,000 due to substantial business losses.Mark received the $2,000 as a refund from the state during 2014.What amount must Mark include in income in 2014?

• A)$0
• B)$1,000
• C)$2,000
• D)$6,000

Identify the largest coral reef system and understand the significance of coral reefs.

Understand the relationship between water temperature, movement, and oxygen availability in aquatic ecosystems.

Describe the effects of daily and seasonal temperature changes on biomes like deserts and tundras.

Recognize the role of Earth's axial tilt in seasonal changes and its influence on climate and ecosystems.

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Definitions:

Variable Cost

Financial obligations that adjust based on the level of manufacturing.

Earnings Before Interest And Taxes

A measure of a company's profitability that excludes interest and income tax expenses.

Depreciation Expense

The systematic allocation of the cost of an asset over its useful life, reflecting how the asset's value decreases over time due to use or obsolescence.

Tax Rate

The specified rate at which a person’s or company’s income is taxed.