Re: OT: federal tax question

Posted by MarkB_MI on January 06, 2009 at 03:42:10 from (216.234.98.121):

In Reply to: Re: OT: federal tax question posted by fergienewbee on January 05, 2009 at 14:58:24:

Larry, you are mistaken.

Yes, the state sends you a statement of your tax refund for the previous year. And they also send the same information to the IRS. This is a FEDERAL requirement, and has nothing to do with Michigan law.

If you don't have to declare your refund as income on your federal return (e.g. you didn't itemize the previous year), then you can ignore the notice. If you declared the refund as federal income, you SUBTRACT the amount from your federal AGI when calculating your Michigan income.

Just read the instructions that come with your Michigan tax forms, it's fairly explicit.

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