The taxable portion of your State/Local Income Tax Refund involves a calculation that considers how much, if any, tax benefit you received from claiming the taxes. Certain factors are considered, such as the actual amount of taxes deducted (especially due to the $10,000) limit on the deduction in 2022, what your Standard Deduction would have been if you didn't itemize, and how much Sales Tax you could have deducted instead of State/Local Income Tax.
You can see how TurboTax calculated this amount by viewing the State and Local Income Tax Refund Worksheet.
In your MAC program:
- At the top of your screen, click View.
- Choose Go to Forms.
- In Forms, choose Open A Form.
- Search for the State and Local Income Tax Refund Worksheet (abbreviated St Refund Wks)
Then review the entries to verify that this is correct.
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