jazz4cash
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
It seems to me that I am being penalized for having received a "large" state tax refund last year. When I filed '05 taxes, my state tax witholding was included in itemized deductions, so it was subtracted from AGI to get down to taxable income.
In filing for '06 taxes, the refund I received from the state increases my AGI and disqualifies me for various deductions. I understand I need to "undeduct" the refund, but I guess I never noticed the AGI impact before. The full amount witheld was included in last years AGI, and now the amount refunded is being counted a second time in this years AGI........what am I missing?
In filing for '06 taxes, the refund I received from the state increases my AGI and disqualifies me for various deductions. I understand I need to "undeduct" the refund, but I guess I never noticed the AGI impact before. The full amount witheld was included in last years AGI, and now the amount refunded is being counted a second time in this years AGI........what am I missing?