Which of the following statements is INCORRECT for a claim of right? If the...
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Accounting
Which of the following statements is INCORRECT for a claim of right?
If the claim of right is over $3,000, it may be entered as an Other Itemized Deduction for California on Part II, line 16, of Schedule CA (540).
If the claim of right is $3,000 or less, it may be taken as a deduction subject to a 2% of adjusted gross income limitation for California on Part II, line 21, of Schedule CA (540).
If the claim of right is more than $3,000, it may be taken as a credit for California.
If the amount repaid was not taxed by California, the claim of right is subject to a 2% of adjusted gross income limitation for California
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You can see the logs in the Dashboard.