Accounting question re tax refund

Michael DeBusk michael at nlphilia.com
Wed May 21 01:22:53 EDT 2008


Roland Roberts wrote:

> Hmm, since the original poster was not from the USA, I'm not sure if
> how it works here is relevant.

Ouch. I hadn't realized that.

> I received a refund from the State of New York in 2007 for the 2006
> tax year.  On my 2007 tax forms, I had to enter that refund.  It has
> a special place on the form, but it effectively gets counted as
> income for 2007.  The reason for this is that it was not counted in
> 2006 (they don't tax you on taxes).

The last time I got a state refund, it was for one dollar. I aspire to
someday break precisely even. :) I can't say I've ever noticed that line
on the forms.

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