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Discussion Forum Index --> Basic Tax Questions --> Telephone Exise Tax Refund
Discussion Forum Index --> Tax Questions --> Telephone Exise Tax Refund
Ctown0828 (talk|edits) said:
| 31 January 2008
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| Remember that Federal Telephone Exise Tax Refund from the 2006 Tax Return? Does that have to be claimed as income on the 2007 Federal Tax Return? Thank you for your response.
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DZCPA (talk|edits) said:
| 31 January 2008
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| Yes. There is a tax portion and an interest portion. Lacerte has it as a memo item in the return to help you with the amount.
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Ctown0828 (talk|edits) said:
| 31 January 2008
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| Sorry, I don't use Lacerte. If I received the standard amount of $30 for Single Filing status, how would you know what the tax portion and interest portion was? Would I claim the $30 as Other Income?
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DZCPA (talk|edits) said:
| 31 January 2008
|
| Sorry, Only business calim the refund. Not individuals. Ignore the amount. Its tax free.
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