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Home > Money & Services > Taxes   »   tax refunds from prior year

 
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Old Jan 9, 2007, 07:53 AM
mandy768
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tax refunds from prior year

Hi there my name is amanda and i have never filed my taxes on my own before. so i was wondering do you have to put down the tax refunds from federal and state from the year before?? also are these refunds considered a wage??

thank you
amanda

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Old Jan 9, 2007, 09:11 AM   #2  
delite
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Quote:
Originally Posted by mandy768
Hi there my name is amanda and i have never filed my taxes on my own before. so i was wondering do you have to put down the tax refunds from federal and state from the year before?? also are these refunds considered a wage??

thank you
amanda
Refunds from state may be taxable for federal purposes if you itemized deductions on your federal tax return. Refunds of federal income taxes are not taxable...
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Old Jan 11, 2007, 07:19 AM   #3  
AtlantaTaxExpert
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Further, if the state tax refund IS taxable, you are taxed in the year you received the state tax refund, NOT the tax year for the refund.
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