TaxPrep4Free.org |
State Tax Refund Worksheet |
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1 |
Total state / local income tax refund(s) for
?TYP?
received in
?TYC?
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1 | |||
2 |
Enter amounts from the
?TYP?
tax return
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Schedule A, line 5a, income taxes
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Schedule A, line 5b, general sales tax
(You can use the
NJ Sales Tax Worksheet,
if appropriate)
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Difference - the state tax refund is only taxable to the
extent the state tax deduction exceeds the sales tax
deduction
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3 |
Net state / local income tax refund
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3 | |||
4 |
Enter the total of all other Schedule A refunds or
reimbursements for
?TYP?
received in
?TYC?
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4 | |||
5 |
Add lines 3 and 4
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5 | |||
6 |
?TYP?
itemized deductions
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6 | |||
7 |
Filing status for
?TYP?
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7 | |||
8 |
Age 65 or blind.
Enter amount from the
?TYP?
Form 1040, page 2, line 39a
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8 | |||
9 |
?TYP?
Standard deduction
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9 | |||
10 |
Subtract line 9 from line 6
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10 | |||
11 |
Smaller of line 5 or line 10
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11 | |||
12 |
Taxable income for
?TYP?
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?TYP?
1040, line 41, AGI minus deductions
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?TYP?
1040, line 42, Exemptions
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Taxable Income - Subtract line 42 from line 41
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13 |
Amount to include in income for
?TYC?
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13 | |||
14 |
Taxable state / local income tax refund on
?TYC?
return (1040, line 10)
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14 | |||
15 |
Taxable amount of other income on
?TYC?
return (1040, line 21)
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15 |