7
QuizMultiple Choice

Simple Income Tax — Quiz

Question 7 • Financial Math

Tyler's tax return shows he had $⁢5,000 withheld in federal taxes and his total tax liability is $⁢4,000 What is the amount of his tax refund?

Answer
A
1 dollars comma 000
B
2 dollars comma 000
C
5 dollars comma 000
D
4 dollars comma 000

Explanation

Tyler’s refund is the amount he paid in withholding beyond his total tax liability. Subtract $4,000 in tax liability from $5,000 withheld: $5,000 − $4,000 = $1,000. The correct choice is $1,000.

AI-written and checked against the verified answer.

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