Skip to main content
January 26, 2025
Question

If my 2012 Form 1040 was recently changed and I received a refund this year do I need to report that money as taxable?

  • January 26, 2025
  • 2 replies
  • 0 views
No text available

    2 replies

    rjs
    Employee
    January 26, 2025

    You do not report a federal income tax refund on your federal tax return.

     

    January 26, 2025

    No, federal taxes are not a deduction or addition.  If you received interest on the refund, that is taxable income for the year in which it was received.

     

    You can report interest income here:

    • Open TurboTax Online and navigate to Wages & Income > Investments and Savings (1099-B, 1099-INT, 1099-DIV, 1099-K, Crypto) > Add/Edit
    • Under "Let's import", choose "Enter a different way." 
    • Choose Interest, continue
    • Choose "Type it in myself"