I filed my tax and already received tax refund from IRS in early March 2025. By the end of March 2025, I received a property tax refund from the County and deposited the property tax refund into my bank account. Then I found out that the property tax refund was for homestead exemption for Year 2024 for my rental house which was wrong because I had applied to remove the homestead exemption for that house in January 2024. I went to the county tax office and they removed the homestead exemption afterwords. Do I need to file an amended return for tax year 2024? I assume that I will need to pay the property tax refund back to the County sometime in Year 2025. If so, I should be fine with my tax return for Tax Year 2024, right?
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I don't think you need to file an amendment if I understand correctly.
I assume you took a deduction for the property tax. It was later refunded, but you will have to pay the refund received back to the county. So in that case, your return is accurate, once you pay back the refund. Is that correct?
I don't think you need to file an amendment if I understand correctly.
I assume you took a deduction for the property tax. It was later refunded, but you will have to pay the refund received back to the county. So in that case, your return is accurate, once you pay back the refund. Is that correct?
Yes, correct. Thank you so much for answering my question.
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