Tom and Betsy,who Are Married Filing Jointly,reported a Standard Deduction

question 14

Multiple Choice

Tom and Betsy,who are married filing jointly,reported a standard deduction of $12,600 on their 2015 tax return.They paid $500 to the state for income taxes in 2015.In 2016,they received a $125 refund of state taxes paid in 2015.What is the amount that Tom and Betsy need to report on their 2016 tax return?

• A)$375.
• B)$0.
• C)$125.
• D)$500.

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Definitions:

Foreign Direct Investment

Investment made by a company or individual in one country in business interests in another country, in the form of establishing business operations or acquiring business assets.