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 State of Hawaii Tax Form G 45 2017

2017-2023 Form

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In this presentation we will discuss the effect of a tax refund from the state on federal income taxes in other words if we get a tax refund from the states do we have to include it in gross income for federal income taxes do we have to pay federal income taxes on the refund from the state for more accounting information and accounting courses visit our website at accounting instruction dot info, and we have the answer that we often have within taxes it depends the amount of the state or local tax refund is taxable in the current year if in the prior year the refund was deducted as an itemized deduction this does make sense if we think about it, but it takes a little of thinking in terms of the timing differences that are happening when we think about the tax deductions so with the state taxes it's rEvally kind of confusing to have the state taxes be deductible on the federal return, so that's rEvally the confusing component of this the state and local taxes we typically get a deductio

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