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epicmaxwell24-gm
February 10, 2024
Question

Was a partial resident of MN last year, and partial resident of CO last year, for 2023 I am full time CO resident. I have a MN stimulus payment. What do I do?

  • February 10, 2024
  • 1 reply
  • 0 views
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1 reply

D
DianeW777
February 10, 2024

Keep the information in your tax file. Based on the Colorado (CO) income tax guide for full year residents, there is no addition for a rebate you received from Minnesota (MN) while you were a CO full year resident.  It is not part of the federal income tax which would also not require you to reduce your income for your CO return.

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T
TomD8
Employee
February 10, 2024

"It is not part of the federal income tax which would also not require you to reduce your income for your CO return."

 

According to the MN tax website, the 2023 MN tax rebate IS taxable at the federal level:

https://www.revenue.state.mn.us/direct-tax-rebate-2021#:~:text=Rebate%20Payment%20is%20Taxable%20on,income%20tax%20returns%20for%202023.

 

The taxpayer will likely receive a 1099-MISC.

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