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Do we have to manually input 2017 NYS Tax refunds if client took the standard deduction in 2018?
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But was the standard deduction taken in 2017? If so - no.
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So if they itemized in 2017 but took the Standard Deduction in 2018 we have to include 2017 NYS Tax Refund for 2019?
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You're getting me dizzy. If someone receives a tax refund, if they benefitted from the deduction of those taxes some of the refund might be taxable. in what year did they receive the refund from the 2017 return?
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Sorry my head is spinning but I don't want to get you dizzy!!
They itemized in 2017 and received a NYS refund in 2018.
Would we have to manually input that in Part IV of Taxable Refund worksheet?
Line 13 Total Taxable refunds from 2017 or prior tax returns?
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Ok, I'm stable now. You can skip that line.
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Ok I guess I over thought that. That would be for 2017 Tax Refund received in 2019??
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Thank you so much!
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You betcha!
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