ETAX1040SBLOG

How to Report Form 1040 Taxable Refunds?

Receiving a tax refund is always a pleasure as you can do little more with the extra money. But tax refund may not be possible for all the tax payers. The IRS states that few state tax refunds are also taxable income. You need to report that taxes on the tax return form on 10th line of Form 1040 the following year. Whether the received Refund is Taxable? The tax payer need to report the state income...