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Emily Smith files her tax return on the basis of fiscal year. Her records show that...

Emily Smith files her tax return on the basis of fiscal year. Her records show that she received income in November 2017 and February 2018 from which there was backup withholding ($100 and $50, respectively). Emily takes credit for what amount of backup withholding on her tax return for the fiscal year ending September 30, 2018?

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The back up withholding is to be reported as federal income tax withheld on taxpayer's income tax return for the year in which the taxpayer received the income.

Emily Smith files her tax return on the basis of fiscal year. As given her fiscal year is October 1 to September 30. Her backup withholding (of $100 and $50) is for her income in November 2017 and February 2018 respectively.

As such:

The credit for the amount of backup withholding on her tax return for the fiscal year ending September 30, 2018 = $100 + $50 = $150

The credit for the amount of backup withholding on her tax return for the fiscal year ending September 30, 2018 =$150

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