https://ttlc.intuit.com/community/taxes/discussion/re-income/01/2951935#M1077754 <P>A refund is only income if that cost was deducted in a prior year.&nbsp;</P> <P>&nbsp;</P> <P>If you purchased Office Supplies and deducted that cost as a Business expense, yes, the refund needs to be added back.&nbsp;</P> <P>If you purchase school supplies for your kids and get a refund, no, that is irrelevant.&nbsp;</P> Tue, 14 Mar 2023 01:07:58 GMT KrisD15 2023-03-14T01:07:58Z https://ttlc.intuit.com/community/taxes/discussion/income/01/2951911#M1077746 <P>I received a partial refund for merchandise purchased in a prior year which had been overpriced. Is this considered income?</P> Tue, 14 Mar 2023 00:54:58 GMT https://ttlc.intuit.com/community/taxes/discussion/income/01/2951911#M1077746 billyd_53214 2023-03-14T00:54:58Z https://ttlc.intuit.com/community/taxes/discussion/re-income/01/2951935#M1077754 <P>A refund is only income if that cost was deducted in a prior year.&nbsp;</P> <P>&nbsp;</P> <P>If you purchased Office Supplies and deducted that cost as a Business expense, yes, the refund needs to be added back.&nbsp;</P> <P>If you purchase school supplies for your kids and get a refund, no, that is irrelevant.&nbsp;</P> Tue, 14 Mar 2023 01:07:58 GMT https://ttlc.intuit.com/community/taxes/discussion/re-income/01/2951935#M1077754 KrisD15 2023-03-14T01:07:58Z