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State tax refund taxable calculator

state tax refund taxable calculator

If your recovery was for an itemized deduction that was limited, you should read Itemized deductions limited under Itemized Deduction Recoveries.
Your itemized deductions exceeded the film inuyasha episode 56 subtitle indonesia standard deduction by at least the amount of the recovery.
This amount was: For 2008, 159,950 (79,975 if married filing separately For 2007, 156,400 (78,200 if married filing separately and For 2006, 150,500 (75,250 if married filing separately).If popcon pro exchange 2013 the amount you recovered was deducted in a year in which your itemized deductions were limited, you must include it in income up to the difference between the amount of itemized deductions actually allowed that year and the amount you would have been allowed.I have gotten hints from my reading that because I paid estimated taxes in 2009 for my 2008 taxes, that this needs to be taken into account.You cannot use Form 1040A or Form 1040EZ.If one or more of the six statements listed in the preceding discussion is not true, you may be able to exclude at least part of the recovery from your income.In 2009, you received the following recoveries for amounts deducted on your 2008 return: Medical expenses 200, state and local income tax refund 400 Refund of mortgage interest 325 Total recoveries 925 None of the recoveries were more than the deductions taken for 2008.I thought that since I had to pay AMT in 2008 which disallowed all of my state tax deductions, that none of my state refunds should be taxable.Enter the smaller of line 3 or line.On your 20, line 42 was more than line.For 2008, you filed a joint return on Form 1040.You owed alternative minimum tax for 2008.Your itemized deductions were not subject autobuses teotihuacanos texcoco horarios to the limit on itemized deductions.Do not enter more than the excess of your state and local income tax deduction over your state and local general sales taxes you could have deducted.If the refund is more than the excess, see Total recovery not included in income, later.Of the 2,500 you recovered, 500 was due to your state income tax refund.You do not include in your income any amount of your recovery that is more than the amount you deducted in the earlier year.Instead, use the worksheet in the 20 instructions for line 10 to figure the amount (if any) to include in your income.If you had unused tax credits in the earlier year, see Unused tax credits, later.
I have not been able to figure out how this number was calculated.
In addition to the previous six items, you must include in your income the full amount of a refund of state or local income tax or general sales tax if the excess of the tax you deducted over the tax you did not deduct.