As a New York City apartment owner, I received three rebates this year:
- State STAR Program credit
- State Homeowner tax rebate
- City Property tax rebate
I know I need to report both the STAR Program credit and the Homeowner tax rebate from the state on my federal taxes by deducting the rebate amounts from the property tax deduction in TurboTax. Both prior experience and information on the NYS tax website explicitly dictate as such. I do not know, however, whether I need to do the same for the rebate from New York City. This is the first time I am receiving a rebate like this from the city, and I don't know if there's a difference in reporting requirements between the state and local municipality level.
The NYC tax website is unfortunately silent on this subject. [Link 1] [Link 2] I tried opening a case with the city's finance office to get an answer, but after two weeks I've received no reply. This is the last thing I need to figure out before I can file my returns, and I want to obtain both my federal and state tax refunds as soon as possible. Any guidance that anyone can provide here would be greatly appreciated.
