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Retirement tax questions
The 1099-G that you received is for a state tax refund that was sent to you in 2022. It was probably the refund from your 2021 state tax return.
The reason you have it is because you may be taxed on it.
- Anyone who’d claimed the standard deduction on their federal returns would not have to report the income on their 1040s next year. And the vast majority of taxpayers, particularly on the low to middle rungs of the income ladder, take the standard deduction.
- Only taxpayers who itemize their deductions and deduct their state income taxes on their federal returns will have to report the state refund as income to the IRS.
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January 31, 2023
7:43 AM