Small town
Level 3
03-28-2024
04:40 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
It seems that the refund of the credit should not be taxed the following year. ProSeries automatically brings the refund to the current year and adds it to income. Has anyone had experience with this and should a work around be used?
Best Answer Click here
Labels
sjrcpa
Level 15
03-28-2024
06:45 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
It is taxable to the extent they received a tax benefit from deducting real estate taxes. Same as for state income tax refunds.
Ex-AllStar
