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Retirement tax questions
The NY inflation refund checks are not exactly a refund of your NY income taxes.
These one-time payments provide relief to New Yorkers who have paid increased sales taxes due to inflation.
See this NY Revenue document.
Your NY inflation refund check is taxable at the Federal level.
You need to report this income as Other Reportable Income.
In TurboTax Online, open your return and follow these steps:
- Click on Federal in the left-hand column, then on Wages and Income
- Navigate to the list of Income categories
- Locate the Less Common Income section and click on the arrow on the right
- Click Start next to Miscellaneous Income, 1099-A, 1099-C at the bottom
- On the next page, click Start next to Other Reportable Income.
This payment is not taxable at the NY state level.
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12 hours ago