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Author: FuskieFool Big funky green star, 20000 posts Top Favorite Fools Old School Fool Ticker Guide SC1 Red Winner of the 2010 Rule Breakers Challenge Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 69  
Subject: Re: Is a Tax Refund Taxable? Date: 1/27/2004 1:23 PM
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I received a state tax refund 1099-G form for 2002 and it says it could be taxable this year if it was included on my itemized form last year. My question is because it was listed as the total (refund) at the bottom of my form last year, does that count? Do I have include it this year and where?

I believe that you can deduct state taxes paid from your federal adjusted gross income (AGI). When you get a state refund, that money becomes taxable. If you did not deduct the state taxes from the federal tax return, then you already paid tax on them and do not need to do so again.

Fuskie
Who claims to have no tax expertise and does not pretend so...
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