Hi,In STATE TAXES, Minnesota, in screen Tell Us About Other Income AdjustmentWould the one-time tax rebate apply to tax year 2023, rather than 2021?Should I also report my pension income here, considering that I've already included it in my federal income tax?Thanks for your assistance, Maury

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maury2

Solved

Minnesota tax the one-time tax rebate , pension

Forum|Forum|2 years ago
February 22, 2024
1 reply
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Hi,

In STATE TAXES, Minnesota, in screen Tell Us About Other Income Adjustment

Would the one-time tax rebate apply to tax year 2023, rather than 2021?
Should I also report my pension income here, considering that I've already included it in my federal income tax?

Thanks for your assistance, Maury

Best answer by TomD8

Although issued in 2023, the Minnesota tax rebate is for tax year 2021. See this:

https://www.revenue.state.mn.us/direct-tax-rebate-2021

TomD8

Employee

The Minnesota tax rebate is not taxable on your Minnesota state tax return.

If you include this payment in your federal adjusted gross income, subtract it from Minnesota taxable income on line 33 of Schedule M1M and on line 10 of Form M1PR on your state returns.

https://www.revenue.state.mn.us/press-release/2024-02-15/department-revenue-will-start-reissuing-over-128000-expired-one-time-tax

**Answers are correct to the best of my ability but do not constitute tax or legal advice.

maury2Author

Apologies for any confusion. My initial first question pertains to TurboTax Deluxe. In the state taxes section, specifically under 'Tell Us About Other Income Adjustment,' there's a question about receiving a one-time tax rebate for the tax year displayed as 2021. Could this be an error? Should it be referring to 2023 instead?