Don Priebe wrote:
- quote -


Bingo, that's it. I have NY child tax credit, which when combined
with my NY mandatory sales tax (e.g. $56) is exactly the amount of the
difference between my '07 refund and my 1099-G. Thanks a million (or
at least the few hundred this saves on my taxes). I think I'll go
back and file amended for '07, when I had this exact same question
(and no surprise, that was the year the NY child tax credit started)
and just put my '06 refund (much larger than the 1099-G amount) on
line 10; seems I could get a few hundred back from '07 too. Thanks.

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< NY 1099-G is smaller than actual refund
The 1099-G sent out by NY represents the amount of your NYS income tax
refund that was due to excessive withholding. This is the amount that you
would enter on the 1040 line 10.

Your actual NY refund may differ from the amount reported on the 1099-G due
to a number of factors. The biggest difference is that the 1099-G does not
include any refund that is NOT to due excess withholding, such as refunds
due to refundable credits. And NY has a lot of them. There is a NY EIC, a
NY child care credit (yes, it's refundable at the state level), the NY
tuition credit (again, refundable), the NY child tax credit, the NY property
tax / renter's credit, etc. None of these are the result of
over-withholding, and so are not recoveries that would be taxable by the
feds. It also works the other way - your 1099-G may be larger than your
actual refund because part of your income tax refund was used to satisfy
your sales tax liability, which is reported on the income tax form for your
convenience.

--
Don EA in Upstate NY

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rachelms79[at]hotmail.com wrote:
- quote -


ChEAr$,
Harlan Lunsford, EA n LA

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<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >

If the 1099-G for '08 is less than the state income tax refund I
received in '08 for '07 taxes, which amount do I put on line 10 of
form 1040? e.g. 1099-G says $900, but my refund was $2200. I read in
pub 525 about the taxable portion of the income tax refund being
limited to the amount over the sales tax deduction which I could have
claimed in '07 instead of income tax deduction, but that doesn't apply
to my case; the income tax deduction was about $6500 and the sales tax
deduction would have been about $2000, so this $4500 is bigger than my
$2200 refund - thus it seems I should ignore the 1099-G (NYS) and just
put $2200 on line 10? Thanks in advance.

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<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >