Solved: Do I have to add last years tax refund info as income?

Do I have to add last years tax refund info as income?

In 2015 I paid 320 in state and 440 in federal. I got that as a refund in 2016. Do i have to add those as incomes for 2016?

posted

No you do not have to count those as income in 2016. You already were taxed on that income in 2015. It was just returned to you in 2016 after being held in a non-interest bearing account - the IRS.

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No you do not have to count those as income in 2016. You already were taxed on that income in 2015. It was just returned to you in 2016 after being held in a non-interest bearing account - the IRS.