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Posts Tagged ‘realestate’

Estimated Tax Federal 2009

Question: Federal Tax on State Tax refund?

In 2009 I paid 1000.00 in estimated taxes for 2009 tax year. I itemized my 2009 Federal return and claimed (deducted) that 1000.00. In March of 2010 I completed my 2009 state return and paid an additional 1300.00 to the state. I later discovered that I had made a mistake and filed an amended state return, the result of which was that the state returned (refunded?) 1200.
Should I expect a 1099-G for the 1200?
If I do get a 1099-G why should that be considered as income for my 2010 Federal return?

Answer: Yes.

Tax Tips: Estimated Tax Payment