The Clarks, who file their income taxes as married filing jointly, paid $108,000 of state...
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Accounting
The Clarks, who file their income taxes as married filing jointly, paid $108,000 of state income taxes in 2019 and itemized deductions. This state income tax deduction was their only deductible tax. In 2020, they will receive a $100,000 state tax refund? How much income should the Clarks recognize regarding the receipt of the state tax refund?
Group of answer choices
a) $8,000 income
b) $10,000 income
c) $100,000 income
d) $108,000 income
e) None of the above
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