For the 2016 tax season I filed both Virginia and Maryland state tax returns. I owed Virginia taxes, but received a refund from Maryland.
The Maryland refund was much smaller than what I owed in Virginia taxes.
Do I still have to record the MD refund as income on my federal taxes for the 2017 tax year?
Seems like the Virginia taxes I paid should offset the Maryland refund income.
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Yes, you still need to include the MD tax refund as income on your Federal return.
If you used itemized deductions in 2016, then the MD tax refund will be included as income. If you used the standard deduction, then the refund will not be taxed.
If you are using itemized deductions on your 2017 tax return, then the balance due that you paid to VA may be included as a deduction. That way, it will offset the income from the MD tax refund.
To go to the section of the tax return to enter the VA balance due, use these steps:
Yes, you still need to include the MD tax refund as income on your Federal return.
If you used itemized deductions in 2016, then the MD tax refund will be included as income. If you used the standard deduction, then the refund will not be taxed.
If you are using itemized deductions on your 2017 tax return, then the balance due that you paid to VA may be included as a deduction. That way, it will offset the income from the MD tax refund.
To go to the section of the tax return to enter the VA balance due, use these steps:
no dowlown for my md state taxes
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