Quote:
Originally posted by Aurel
When I fill my taxes, I only get taxed on the state refund, not the federal.
|
Last year's state refund is this year's income. Why? Because your state withholding was a federal deduction last year. "legitimate" tax paid to the state (the total w/h less the refund) is deductible.
__________________
Rosewood 1983 911 SC Targa | Black 1990 944 S2 | White 1980 BMW R65 | Past: Crystal 1986 944 na
Guards Red is for the Unoriginal