Solved
Georgia 2023 tax rebate
Do we need to include the 2023 Georgia Tax Rebate as income on our 2023 federal tax return?
The IRS has determined that tax rebate payments from Georgia, Massachusetts, South Carolina, and Virginia are taxable if the payment was a refund of state taxes and the individual itemized and received a tax benefit. As DoninGA mentioned previously, if you used the Standard Deduction on your 2022 federal tax return, you do not report the $500 "refund"/rebate. In addition, if you itemized and your state and local taxes pad exceeded the $10,000, then the refund is not taxable if the excess was $500 or more. If it was less than $500, then a portion of the refund would be taxable. Bottom line, if you did not itemize and instead claimed the standard deduction, you can ignore it!
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