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January 26, 2024
Question

Dealing with 2023 form and the MNH one-time rebate not working

  • January 26, 2024
  • 1 reply
  • 0 views

I am having a problem with the MN tax rebate.  I entered the amount on the Federal 1099-MISC.  The dollar amount is shown on Federal Form Schedule 1 line 8z.  I also have a 2014-7 subtraction on that line.

 

The MN State form M1M line wants me to put the exact amount of the refund on line 33.  No matter what I enter, it gives an error in the final review.

 

What is the solution for the problem and solution?

    1 reply

    January 27, 2024

    To solve the problem you are having with your MN Tax Rebate:

     

    First, the income from your rebate should be on line 8 of your Federal Form 1040 as Other Income.  If it is not, then follow the following steps to make sure it is reported correctly on your federal return: 

     

    1. Launch TurboTax 
    2. Select Wages and Income
    3. Scroll down to Other Common Income and select 1099-MISC
    4. Review your 1099-MISC
    5. Enter MN Rebate for the description and Continue
    6. Does one of these uncommon situations apply? screen, select None of these apply
    7. Did this involve work that's like your main job? screen, select No
    8. How often did you get this income? screen, select I got it in 2023 and Continue
    9. Answer No, it didn’t involve an intent to earn money and Continue
    10. Answer No, if you don’t have any more forms to enter and Continue 

    If everything is correct on your Federal return, on your Minnesota return you will need to follow the steps below to deduct your MN tax rebate: 

     

    1. Select Prepare State from the menu on the left and select Start
    2. Select MN and select Continue
    3. Scroll through the screens and when you get to Tell Us About Other Income Adjustments, select Received a one-time tax rebate for tax year 2023 from the State of Minnesota and select Continue
    4. Enter the Rebate Payment Amount

     Refer to the link below to see more information about the Minnesota Direct Tax Rebate Payments:

     

    Direct Tax Rebate Payments