TAXMAN Posted November 3, 2015 Report Posted November 3, 2015 TP files a 2013 state return in 2015. tp has refund applied to 2014 state return as an estimate for 2014. State applies refund to 2014 estimated. For Schedule A tax deduction does this belong on 2014 or 2015. What do you think? Quote
Jack from Ohio Posted November 3, 2015 Report Posted November 3, 2015 2014. It may also be taxable for 2014 as well. Quote
Abby Normal Posted November 3, 2015 Report Posted November 3, 2015 The refund would be taxable in 2015 when it was "received". The 1099G will be dated 2015. But the deduction... as I'm typing this I realize, that's a very good question! Since the taxpayer had control of the cash in 2015 and applied it then, I'm leaning towards it being a deduction in 2015. 2 Quote
TAXMAN Posted November 3, 2015 Author Report Posted November 3, 2015 My way of thinking was that he did not control funds until 2015 so the deduction and the taxable amount would be in 2015. 2 Quote
Possi Posted November 3, 2015 Report Posted November 3, 2015 The refund will be taxable in 2015, and if the state is like VA, a 1099 will be issued. I also believe the amount applied will be deductible in 2015. 1 Quote
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