Why is my 2016 State Tax refund NOT showing as income on line 10? I applied it to 2017 est. tax and I itemized last year? I did pay AMT last year - does that affect it?
01322
1 Best answer
arusso03
Level 3
Jun 6, 2019 10:39:59 AM
TT gives option of recalculating AMT from last year (grueling exercise) but if done, it can exempt all state refund from taxation. One has to do all the calcs by hand but if your state refund is large enough, it can be worth it.
1 Replies
arusso03
Level 3
Jun 6, 2019 10:39:59 AM
TT gives option of recalculating AMT from last year (grueling exercise) but if done, it can exempt all state refund from taxation. One has to do all the calcs by hand but if your state refund is large enough, it can be worth it.