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@Anita01, I received a reasonably large state tax refund in 2018 on 2017 taxes. I paid AMT for the 2017 tax year because I lost part of my SALT deduction as described above.
It is now 2019 and I am working on my 2018 taxes. I made the exact computation discussed above, refiguring my 2017 AMT. Refiguring increased my Income tax (form 1040, line 44) by ~ $1500 and decreased my AMT (form 1040, Line 45) by ~ $2000.
Despite the changes in my 2017 AMT establishing that I had lost much of the SALT deduction, Turbotax reports that the 2017 refund (paid in 2018) is taxable. There is seemingly no set of numbers that I can put into turbotax that will give any answer other than 100% taxable. Is there a bug or am I doing something wrong?
it's very disappointing that TurboTax doesn't do this calcualation. I paid AMT numerous years and received a state tax refund numerous years, so I think those refunds would've been excluded as income, but I thought TT was handling this calculation for me, so I included all of the refund as income for several years. Ending up costing me about $3000, and it's past the time limit to file amended return. Really disappointing TT allows this to happen - I got screwed.
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