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Do I have to report my Federal tax refund on my IA return?

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Question
Do I have to report my Federal tax refund on my IA return?

Answer

To find out the amount of your federal refund,you must contact the IRS at 1-800-829-1040 or www.irs.gov. If you chose to have any part of an overpayment of federal income tax credited to estimated tax payments

If you chose to have any part of an overpayment of federal income tax credited to estimated tax payments, the amount should be claimed as estimated tax paid on line 32. The total overpayment must be reported on line 27. Any portion of the federal refund received due to
the motor vehicle fuel tax credit and the recovery rebate credit must be reported on the Iowa return.

Do not include the federal refund in the following situations:

  • Do not include any part of the refund received from earned income credit, additional child tax credit, or first-time homebuyer credit.
  • You are filing an Iowa return for 2009 for the first time because you moved into Iowa during the year. A refund of federal tax received in 2009 is not reported if the tax was not deducted from Iowa income in a prior year.
  • The refund you received was from a year in which you did not take a deduction for the payment of federal tax because your income was less than the minimum amount for paying Iowa tax or your tax for that year was calculated using the alternate tax computation.
  • You were a nonresident for the tax year of the refund and were not required to file an Iowa return for that year.
  • The $250 federal payment made to Social Security recipients, veterans, and railroad retirees in 2009.

MARRIED SEPARATE FILERS:
If the refund received was from a jointly-filed federal return, it must be divided between the spouses in the ratio of the spouse's Iowa net incomes in the year for which the refund was issued.

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Federal Income Tax Refund/Overpayment Received

Any federal income tax refund received during the tax year must be reported on this line. To find out the amount of your federal refund, you must contact the IRS at 1-800-829-1040 or www.irs.gov. If you chose to have any part of an overpayment of federal income tax credited to estimated tax payments, the amount should be claimed as estimated tax paid on line 32. The total overpayment must be reported on line 27. Any portion of the federal refund received due to
the motor vehicle fuel tax credit and the recovery rebate credit must be reported on the Iowa return.

Do not include the federal refund in the following situations:

  • Do not include any part of the refund received from earned income credit, additional child tax credit, or first-time homebuyer credit.
  • You are filing an Iowa return for 2009 for the first time because you moved into Iowa during the year. A refund of federal tax received in 2009 is not reported if the tax was not deducted from Iowa income in a prior year.
  • The refund you received was from a year in which you did not take a deduction for the payment of federal tax because your income was less than the minimum amount for paying Iowa tax or your tax for that year was calculated using the alternate tax computation.
  • You were a nonresident for the tax year of the refund and were not required to file an Iowa return for that year.
  • The $250 federal payment made to Social Security recipients, veterans, and railroad retirees in 2009.

MARRIED SEPARATE FILERS:
If the refund received was from a jointly-filed federal return, it must be divided between the spouse's in the ratio of the spouses' Iowa net incomes in the year for which the refund was issued.

,Federal Income Tax Refund Received
Any Federal income tax refund received must be reported on the appropriate line of your Iowa return. To find out the amount of your Federal refund, you must contact the IRS at 1-800-829-1040 or www.irs.gov.

If you chose to have any part of an overpayment of Federal income tax credited to estimated tax payments, the amount should be claimed as estimated tax paid.

Do not include the Federal refund in the following situations:

  1. Do not include any part of the refund received from earned income credit or the additional child tax credit.
  2. You are filing an Iowa return this year for the first time because you moved into Iowa during the year. A refund of Federal tax received last year is not reported if the tax was not deducted from Iowa income in a prior year.
  3. The refund you received was from a year in which you did not take a deduction for the payment of Federal tax because your income was less than the minimum amount for paying Iowa tax or your tax for that year was calculated using the alternate tax computation.
  4. You were a nonresident for the tax year of the refund and were not required to file an Iowa return for that year.

MARRIED SEPARATE FILERS: If the refund received last year was from a jointly-filed Federal return, it must be divided between the spouses in the ratio of the spouses' Iowa net incomes in the year for which the refund was issued.


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Views: 919 Created on: Jun 15, 2013
Date updated: Sep 17, 2014

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