This is the first I’ve really noticed, or even gone over the limit amount for this.
So it would seem then that although I’m losing the excess amount above the $10,000 limit, at least in part due to the excess amount of Estimated Tax Payments made during the year, I will still pay state income tax on the refund I receive. I know that’s a good reason to keep estimates and payments close to the amount you expect to owe, but it hardly seems fair to still be taxed on the full amount of the refund. Am I missing something?
Thanks!
