You will only need to enter your New York State Inflation refund check as income if you itemized your deductions in 2023. To enter it in TurboTax:
- First review your 2023 tax return to see if you itemized your federal and state taxes?
- If you did not then the check is not taxable and you do not need to enter it
- If you did then it might taxable
- It would be taxable if you fully deducted your New York state and local tax paid in 2023.
- If you did not deduct the whole amount, then the inflation check is not taxable.
- If your inflation check is taxable, enter the $300 under Other Common Income and select refund from state/local government.
The program may ask you about your 2023 return to verify taxability.