You may need to include the refund as income on the next year’s tax return.
or real estate taxes in one year and get a refund of part or all the payments in the next year, you must include the refund as income on the next year’s tax return if there was a tax benefit to the deduction, said Bernie Kiely, a certified financial planner and certified public accountant with Kiely
Capital Management in Morristown.because it was greater than your list of itemized deductions,” he said. “Since you took the standard deduction there was no tax savings from state income or real estate tax deduction.”he said, so you do not have to include the refund or rebate in the subsequent year’s tax return.
Argentina Últimas Noticias, Argentina Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Get Your Tax Refund Faster by Avoiding These 6 Commonly Overlooked MistakesThe tax deadline is just three weeks away — and while most electronic filers can expect refunds within 21 days, small errors can slow things down. Here are some common tax mistakes to avoid.
Leer más »
IRS Says You Must Claim Your 2018 Tax Refund by April 18 — Best LifeIf you never filed your 2018 tax return to claim your refund from that year, the IRS is warning that you only have until April 18 to do so.
Leer más »
How will these medical expenses affect my tax return?If you use a Health Savings Account, be careful with your tax return.
Leer más »
IRS, security experts warn of tax scams, fraudulent returnsThe IRS and cybersecurity firms are warning about scammers filing fraudulent tax returns.
Leer más »
How Should Democrats Respond to Rising Inflation and High Gas Prices?As the midterms approach, some prominent members of the Party are calling for a suspension of the federal gasoline tax and for a windfall tax on the profits of energy companies.
Leer más »
TurboTax sued by feds over claims of ‘free’ tax filing offeringsThe Federal Trade Commission accuses the popular tax prep software of deceptive advertising.
Leer más »