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Retirement tax questions
A federal tax refund is not taxable income on your federal return. A state or local income tax refund is taxable income on your federal return if you itemized deductions the previous year and deducted those taxes. If you took the standard deduction the previous year, the refund would not be taxable.
**Answers are correct to the best of my ability but do not constitute tax or legal advice.
‎October 16, 2023
1:20 PM