"LTSLLC" <lizcanotaxservicesllc[at]spymac.com> wrote:

- quote -

When you refile a return, they pay the refund plus interest.
So, I have 1099 from 2005 for the interest on the recently
obtained refund from 2001.

- quote -

It was paid to me by the IRS.

- quote -

The refund is what generated the interest

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Can you clarify?

1. Is the Form 1099 from 2005 or 2001? If it is from 2005,
what does it have to do with refiling for 2001?

Also, you state that the 1099 is for interest paid in 2005
but then you state you should show it as interest income? If
you paid interest to someone like a bank in 2005, why are
you suggesting you should then report this as income to you?

You also mention "the actual tax refund can be ignored,
right?" What does this tax refund have to do with the Form
1099?

2. Sorry, I can't help with state tax issues, only federal
issues.

Rudy
www.LizcanoTaxServicesLLC.com

<< ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== >

I found I didn't include a major deduction and refiled my
federal and NY tax returns for 2001.

I got the following documents:
1) Form 1099 showing interest paid in 2005. That seems
simple enough, just show it as interest income. The actual
tax refund can be ignored, right?
2) NYS DTF-753 showing my NY refund. Does this affect my
state return at all, since state tax is not deductable from
the state return?

Certainly it should be on my federal tax return, but where
and how? TaxCut tells me to read IRS Pub 525, but 525 might
as well be written in Chinese.

Any help would be much appreciated.

<< ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== >