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jmcan111
New Member

If my 2012 Form 1040 was recently changed and I received a refund this year do I need to report that money as taxable?

 
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2 Replies
rjs
Level 15
Level 15

If my 2012 Form 1040 was recently changed and I received a refund this year do I need to report that money as taxable?

You do not report a federal income tax refund on your federal tax return.

 

MindyB
Employee Tax Expert

If my 2012 Form 1040 was recently changed and I received a refund this year do I need to report that money as taxable?

No, federal taxes are not a deduction or addition.  If you received interest on the refund, that is taxable income for the year in which it was received.

 

You can report interest income here:

  • Open TurboTax Online and navigate to Wages & Income > Investments and Savings (1099-B, 1099-INT, 1099-DIV, 1099-K, Crypto) > Add/Edit
  • Under "Let's import", choose "Enter a different way." 
  • Choose Interest, continue
  • Choose "Type it in myself"
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