| [ USA ] in KIDS 글 쓴 이(By): Charles () 날 짜 (Date): 2001년 2월 24일 토요일 오후 12시 04분 55초 제 목(Title): Re: [Q] 전년 tax refund도 올해의 income� Recording state tax refund of previous year as a federal tax income is not really new. It is a taxable income. On the other hand, if tax was paid to state, this is deducted in Schedule A, as an itemized deduction. I don't think this is fair, because the itemized deduction can make a difference, only if it exceeds the standard deduction, which is not usually easy to beat for residents (for tax purposes). You are not likely to get audited for not reporting the state tax refund. (Certainly, at your own risk.) IRS audit rate has been reduced substantially and this often focuses high income family and business. |