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1099-G for state tax refund?

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Money Talk > Taxes

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mopowers
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1099-G for state tax refund?  Reply with quote  

I received a 1009-G from the CA Franchise Tax Board stating the amount I received for my CA state tax refund last year.

This is the first 1099-G I've ever received. Do I need to claim this amount as income on my 2010 1040 or 2010 CA form 540?

THANKS!!!
Post Tue Feb 01, 2011 3:00 am
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coaster
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Yes. It's taxable income on the Federal 1040. I don't know what it is in CA.
Post Tue Feb 01, 2011 5:57 am
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mopowers
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Thanks coaster.

I did a bit of research last night and it looks like state tax refunds are taxable if state income taxes paid were deducted on the previous year's 1040 schedule A (which mine were).

The way I understand it, I must now record this 1099-G amount on line 10 of my 2010 1040.

Thanks again.
Post Tue Feb 01, 2011 3:32 pm
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coaster
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quote:
Originally posted by mopowers
....if state income taxes paid were deducted on the previous year's 1040 schedule A .....

Yes, thanks for pointing out that qualifier. I do it every year automatically, so I guess I forgot that part. Wink
Post Tue Feb 01, 2011 4:15 pm
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