Here is the situation using specific but made up numbers: I received a 1099-G for tax year 2017 from the State of Oregon that shows $200. The actual refund I received in 2018 was $150. This is because the 1099-G form shows the full amount of Oregon surplus credit ("kicker"). The credit was automatically applied to my 2017 tax return and decreased my tax liability, thus turning a $50 tax bill into a $150 tax refund.
Turbo Tax is aware of all of this as I did my taxes in TT last year and I imported last year's tax return into TT2018. As a result, it automatically includes the actual refund amount, $150, in the calculations.
AFTER THAT it asks me if I received a 1099-G form; how do I answer this question? I am hoping the answer is "no" as the $150 already included covers everything -- but I don't actually have a 1099-G form with $150 printed on it, the 1099-G form I have shows $200.
If I do need to separately enter the 1099-G for the surplus credit, what "type" should I select? There are five options (Taxable grant, Agricultural program payment, etc.) and none of them seem applicable.
Please don't quote the answer that says "it doesn't matter if you don't itemize" -- I did itemize my deductions!
Yes, you do need to enter the 1099G with the full amount. It is entered under state refunds:
You can also enter that you paid state taxes ($100) for 2017. Here's how:
Yes, you do need to enter the 1099G with the full amount. It is entered under state refunds:
You can also enter that you paid state taxes ($100) for 2017. Here's how:
This is exactly what I was looking for. However, when I entered the taxes paid amount in section Deductions and Credits (mine different), my overall Federal Refund amount didn't increase. I expected it to increase to the value that was calculated when I entered the actual OR state refund amount in section Income and Wages, rather than the larger kicker refund amount.
I concur with the above comment in that there is a problem with Turbo Tax software.
Did you enter the number in the 1099-G form or the actual refund you obtained when Turbotax asks for Total Refund Received in 2018?