2011/03/23

When doing state income tax forms you have to enter your federal income tax refund received that year.? | Income Tax Refund Form

2

Question by angdejong: When doing state cash flow tax kinds you have to enter your federal revenue tax refund obtained that year.?
When filing Married filing separately (as I am) it says, “If the refund received was from a jointly-filed federal return (which it was) it need to be divided amongst the spouses in ratio of the spouses’ net income in the yr for which the refund was issued. How do I do this. For instance if our refund was $ seven,034 and I have to declare that on my state tax form how do I split that up between the filer and his wife or husband? How do I locate this ratio?

Earnings Tax Refund Kind

Finest solution:

Reply by Mike
Method:

Your share of refund = Your Revenue / Complete Revenue * Refund Obtained

Illustration:

Your earnings which includes W2, 1099, and so on = $ 70,000
Spouse cash flow like including W2, 1099, and so on. = $ thirty,000
Total income = $ 100,000
Refund Obtained = $ 6,000

$ four,200 = 70,000 /100,000 * 6,000

If your obtained a 1099 in each names, 50 percent of that cash flow is for your wife or husband and 50 percent is for you.

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Tags: income tax forms, income tax refund, state tax form, Tax Refunds.

Filed under Income Tax Refund Form by taxrefunds on Mar 23rd, 2011. Comment. #

Comments on When doing state income tax forms you have to enter your federal income tax refund received that year.? | Income Tax Refund Form Leave a Comment

2011/03/23
Reply

tro @ 4:46 pm #

no

Reply

jaypez77 @ 5:02 pm #

You would need to know your net income and your spouse’s net income from the year the refund relates to.

YOUR ratio would equal your income divided the total income of you and your spouse (likewise your spouse’s ratio would be his/her income divided by the total income of you and him/her).

Your ratio should be less than 1, so if it isn’t then you did something wrong. Once you have your ratio, simply multiply it by the refund amount, and that is your portion of the refund.

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