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#1
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Has anyone included a tax refund as 'other income'?What is the name of your state? AZ Referring to line 10 on official from 22a, to determine average monthly income over the past six months? A poll? It's an elusive answer, but can somebody tell me their aamount of refund and whether it was included as insome, and whether it was mentioned by the trustee as income? Thanks. |
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#2
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| Your tax refund is an asset, not income. It is from income earned during the previous year.
__________________ If you feel my answer is rude, mean, snarky or in anyway not to your liking, I did my job. You don't need to tell me. No private messages, I do not reply to them. |
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#3
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| Quote:
I tell them, "The government kept YOUR money for about a year and now you are getting some of it back! You didn't earn interest on the part the government kept! You've been had!"
__________________ There are two rules for success: (1) Never tell everything you know. |
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#4
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| I don't know the answer to the OP's question, but know his confusion. If you deduct the amount paid for your state taxes on Schedule A in one year, and in the next year you get a refund, that refund is treated as "income" for federal tax purposes. (At least to the level of the tax benefit gained from the deduction.)
__________________ When you are a Bear of Very Little Brain, and you Think of Things, you find sometimes that a Thing which seemed very Thingish inside you is quite different when it gets out into the open and has other people looking at it. --W. T. Pooh (aka A. A. Milne) |
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