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Is my tax refund from last year taxable this year If so, why

Is my tax refund from...
Is my tax refund from last year taxable this year? If so, why? My tax consultant said it was but this makes no sense. That money was earned and has already been taxed. If anything, the IRS should owe me interest on that money for getting to use it for a year.

Susan
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Answered in 5 minutes by:
3/1/2011
Robin D.
Robin D., Senior Tax Advisor 4
Category: Tax
Satisfied Customers: 16,276
Experience: 15years with H & R Block. Divisional leader, Instructor
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Robin D :

Hello and thank you for using Just Answer

Robin D :

If you are talking about the requirement to include your state refund from 2009 on your Federal return, this is only applicable if you itemized onthe 2009 return for federal.

Customer:

No, I'm talking about my federal tax refund from last year.

Customer:

Are you there?

Robin D :

Are you sure they mean the your federal refund from 2009 must be entered on your federal return for 2010?

Customer:

That is what she said. If that's not true, I'll go back and discuss it with her.

Robin D :

One minute, I am still checking on any possible reason your refund from federal would be included on your federal return. Now if they had paid you interest because they delayed your refund then the interest would be included but your refund is generally not included. One more minute please

Robin D :

I am not finding where your federal refund (not interest and not a refund from state) would be included in federal income.

Customer:

Ok. thanks. I will check with her and get this cleared up one way or the other. I appreciate you help. This is a great service.

Customer:

Susan

Robin D :

Thanks, XXXXX XXXXX hitting me back when you get the reason. I would be most interested in the reply.

Robin D.
Robin D., Senior Tax Advisor 4
Category: Tax
Satisfied Customers: 16,276
Experience: 15years with H & R Block. Divisional leader, Instructor
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Robin D.
Robin D.
Robin D., Senior Tax Advisor 4
Category: Tax
Satisfied Customers: 16,276
16,276 Satisfied Customers
Experience: 15years with H & R Block. Divisional leader, Instructor

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