Unformatted text preview: amount deducted in the prior year, or (c) the amount by which the itemized deductions exceed the standard deduction. If the taxpayer did not itemize deductions in the prior year (i.e., took the standard deduction), no amount of the refund is taxable....
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- Spring '11
- Taxes, Taxation in the United States, taxpayer deducted state, income tax refund