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Tax Question 1099-G

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Tax Question 1099-G

Old 02-16-06, 11:02 PM
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Tax Question 1099-G

So I'm using TurboTax's free file to do my taxes. I'm a med student and even with my wife's job we always get the full refund. When putting in all our incomes I noticed a spot for "State and Local Tax Refunds" reported on a 1099-G. We did get a state refund last year, but didn't receive a 1099-G. Do you only get one if the refund was over a certain amount? Do I have to report my federal and/or state tax refunds from last year as income? Granted I don't think we've reported them any years in the past, and it wouldn't matter anyways since the deductions would still outweigh the AGI. However, I guess I don't want to shaft the IRS on accident.
Old 02-17-06, 08:12 AM
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If you received a state tax refund, you have to declare it as income on the following year's taxes if you itemized deductions the year for which you received the refund (but not if you took the standard). Your state should send you a 1099-G if you received a refund.
Old 02-17-06, 08:28 AM
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Thanks for the info. Last year we just took the standard deduction, so I guess that answers that.

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