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How much of the refund they have to include in gross income

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How much of the refund, they have to include in gross income?

1. During 2022, the couple received a state tax refund of $2,500. On their 2021 tax return they claimed $10,000 (the limit) of their $12,000 in state and local taxes as an itemized deduction (their itemized deductions exceeded their standard deduction by $2,000).

2. During 2022, the couple received a state tax refund of $2,000. On their 2021 tax return they claimed $10,000 (the limit) of their $15,000 in state and local taxes as an itemized deduction (their itemized deductions exceeded their standard deduction by $2,000).

Reference no: EM133246867

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