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bobturidavis
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I received a realestate property tax refund in 2017 for years 2016 & 2017. How do I show this on Turble TAX, which form

 
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I received a realestate property tax refund in 2017 for years 2016 & 2017. How do I show this on Turble TAX, which form

Did you deduct those amounts on Schedule A, Itemized Deductions in the years you paid them?  If you didn't, you don't have to report the refund.  (If you took the Standard Deduction the amounts weren't claimed on your return.)

You can deduct the refunded amount for 2017 from the amount you actually paid in 2017 and enter the net amount for the amount you paid in 2017.

The amount that you were refunded for the year 2016 can be reported on Line 21 of your Form 1040.

To do this:

  • Click on Federal Taxes
  • Click on Wages & Income
  • Click the button beside Miscellaneous Income, 1099-A, 1099-C
  • Click the button beside Reimbursed Deductions from a prior year
  • Check the box by Refunded Taxes
  • Enter the amount, select Real Estate Tax and add what county or municipality issued the refund
  • Click Continue

Please read below for the excellent prior year answer from RJS about refunds of prior year real estate taxes.

https://ttlc.intuit.com/replies/5189493


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1 Reply

I received a realestate property tax refund in 2017 for years 2016 & 2017. How do I show this on Turble TAX, which form

Did you deduct those amounts on Schedule A, Itemized Deductions in the years you paid them?  If you didn't, you don't have to report the refund.  (If you took the Standard Deduction the amounts weren't claimed on your return.)

You can deduct the refunded amount for 2017 from the amount you actually paid in 2017 and enter the net amount for the amount you paid in 2017.

The amount that you were refunded for the year 2016 can be reported on Line 21 of your Form 1040.

To do this:

  • Click on Federal Taxes
  • Click on Wages & Income
  • Click the button beside Miscellaneous Income, 1099-A, 1099-C
  • Click the button beside Reimbursed Deductions from a prior year
  • Check the box by Refunded Taxes
  • Enter the amount, select Real Estate Tax and add what county or municipality issued the refund
  • Click Continue

Please read below for the excellent prior year answer from RJS about refunds of prior year real estate taxes.

https://ttlc.intuit.com/replies/5189493


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