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Do I need to report a refund on my tax return that I got from my bank I was eligible for?

The refund was given to me because the bank made updates on the way fees were assessed and I was found eligible for a refund.
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1 Reply
JohnB5677
Expert Alumni

Do I need to report a refund on my tax return that I got from my bank I was eligible for?

No you do not have to pay taxes on a refund.

  • The money you paid for the original fees has been taxed.
  • Therefore, the refund is a payback of money that you already paid taxes on.
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