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student | Tax return question. What should I enter in this field? |
It says "Enter the amount of any tax year 2006 state or local income tax refunds:"
I don't understand this, would someone explain this to me in normal human language. |
 |
 
Colby
 |
If you itemized your deductions in the previous year you may have to include a portion of any state income tax refund you received in that year. However if you took the standard deduction you do not have to include this as income. Look at your 06 return if you have it. If you had a Schedule A(itemized deductions) then you probably have to include it as income. |
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queen_kathleen
|
Colby is correct. If you itemized last year (used the "long form" or a Schedule A to list out certain deductions) as opposed to taking the "standard deduction", you need to include the info about your state/local refund on this year's return.
When you itemize, you are allowed to deduct your state/local withholdings - the amounts listed on the bottom of your W2s - from your income. In essence, you are stating that you PAID so much state/local tax and you don't have to pay federal taxes on that tax money.
But if you receive some or all of those state/local taxes back as a refund, you didn't really pay ALL of those taxes like you stated on that itemized form. And since you didn't pay federal taxes on that money last year, you need to add it to your income and pay taxes on it this year.
Generally speaking. |
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Yarcofin
 |
Did you get a tax refund in 2006?
After you filled out your tax return, did you have money owing to you?
Did you recieve a government cheque in the mail with a tax refund?
If so, put this in the field. |
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visvardis
|
did u receive a tax refund last year what was the amount they send out a form 1099 g if you dont remember |
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grami
 |
Are you itemizing on your federal form? If so then you enter the amount of your last years ( should be 2007? ) refund if any from your State. This question sounds like it's asking for the previous year (2006), so it is confusing.....are you filing an amended form?? Call your local state office to be sure. |
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rtfm
|
OK, in normal human language:
ENTER (write down or type in)
THE AMOUNT OF (how many dollars)
ANY TAX YEAR 2006 (from tax year 2006)
STATE OR LOCAL INCOME TAX REFUNDS
(state or local income tax refunds)
Which part don't you understand?
Did you get any tax refunds from state or local taxes for 2006? OK, then, enter them in that field.
I really *can't* figure out a simpler way to say it. |
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bostonianinmo
|
You've already asked this question once before. Go back and look at the answers, most of which were correct. |
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Glen Allen Lynn
|
If, for some reason, you received a t ax refund from the state you lived in or y9ur town (i.e., perhaps for overpayment etc.) you must report that refund as income on your tax return. |
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Tapestry6
 |
Did you get a refund check from your state last year? Usually they send you a card if you did and you should have had it by now. The feds tax the refund you got from the state its called income to them. I thought it was my money but apparently it ain't! |
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