Angel and Nara are married filing jointly with three children all under the age of...
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Accounting
Angel and Nara are married filing jointly with three children all under the age of 13. Angel is a stay-at- home dad while Nara is an engineer for a local consulting firm. Angel shops online to get the best prices on items to support the family and purchased $18,744 of items each above $1,000 and $487 of items each below $1,000 from out of state retailers. They live in a sales tax rate area of 7.75% and paid $2 of sales and use tax to other states. The couple prefers to apply 100% of any refund to next years tax liability. This years Form 540 had the following amounts:
Adjusted gross income | $164,317 |
Total tax | $ 10,113 |
Total payments | $ 8,092 |
What is the amount of Overpaid Tax Available this Year reported on Form 540, line 99?
$0
$3,506
$6,607
$8,165
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