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Get your taxes done using TurboTax
It depends. You may report it for the reasons Cynthiad66 outlined above. If you report it, Turbo Tax will determine if it is taxable or not. It could be taxable if these conditions existed last year.
- You itemized deductions last year, instead of taking the standard deduction
- You claimed state and local income taxes (not general sales taxes)
- Claiming the deduction helped you increase your federal refund or lower your tax bill.
The Dept of Revenue may have not taken any of this into consideration. If you are certain that none of the situations pertain to you, then it doesn't need to be reported. If you are not sure, you may need to review last year's return to see if you itemized your deductions.
If you claimed a standard deduction, then you do not need to report.
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‎February 23, 2023
3:56 PM