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dcinfio
Returning Member

I received a federal from my 2015 taxes but don't know how to declare that income in the 2016 Turbo Tax Premier.

 
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MichaelMc
New Member

I received a federal from my 2015 taxes but don't know how to declare that income in the 2016 Turbo Tax Premier.

Federal tax refunds are not taxable income. You do not have to enter a refund from the IRS into TurboTax.

State tax refunds may or may not be taxable income, depending on whether you itemized or took the standard deduction in the year that caused the refund.

For more information, please see Taxability of State and Local Tax Refunds

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2 Replies
MichaelMc
New Member

I received a federal from my 2015 taxes but don't know how to declare that income in the 2016 Turbo Tax Premier.

Federal tax refunds are not taxable income. You do not have to enter a refund from the IRS into TurboTax.

State tax refunds may or may not be taxable income, depending on whether you itemized or took the standard deduction in the year that caused the refund.

For more information, please see Taxability of State and Local Tax Refunds

dcinfio
Returning Member

I received a federal from my 2015 taxes but don't know how to declare that income in the 2016 Turbo Tax Premier.

Thank you, MichaelMc!
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