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Do I need to inform my received Michigan State Refund in my Michigan Tax Return?
I'm using turbo tax for the first time and I'd like to know how I can use the State refund I received last year as a deduction in my State return. I informed my State refund as a Income in my Federal return.
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Do I need to inform my received Michigan State Refund in my Michigan Tax Return?
This would be income in your Michigan state return as well, not a deduction. It will carry over from your Federal return.
Here's more info to help you:
https://ttlc.intuit.com/replies/3300438
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Do I need to inform my received Michigan State Refund in my Michigan Tax Return?
Thanks for your reply... I understand that it is an income for my federal return and the state return will import this information as well. But I understand that I do not need to pay State Taxes over this amount so the value I received as State Refund should be deducted from my state income, right?
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Do I need to inform my received Michigan State Refund in my Michigan Tax Return?
Your state refund for 2016 is not a state deduction for 2017; it is only for federal tax, and only if you itemize.
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Do I need to inform my received Michigan State Refund in my Michigan Tax Return?
Ok.. Thanks...