Amended 2011 State Tax Return

I think this is a simple question, but it would be great to make sure what I was told is correct. In the fall of 2013, I amended my state 2011 return and received a $50 abatement in January of 2014. I was told by the state's tax helpline that the $50 abatement would be included in 2014's 1099G. Since the amendment I made only affects the total of my state return, am I correct that I don't have to amend my federal 2012 return to account for the abatement money; that the abatement will just modify my 1099G for 2014?

Originally, I was thinking that by amending my state 2011 return, I would receive an updated 1099G for that year and I would then have to amend my federal 2012 return.

Reply to
taxnoobie
Loading thread data ...

That's correct. It's just the same as an ordinary refund of state income tax--potentially taxable income for the year the payment is received. See Publication 525 to determine the taxable portion, if any.

Phil Marti VITA/TCE Volunteer Clarksburg, MD

Reply to
Phil Marti

BeanSmart website is not affiliated with any of the manufacturers or service providers discussed here. All logos and trade names are the property of their respective owners.