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1099-G form in the mail...?
Today I recieved a 1099 G form from IL in the mail and i'm not sure what it is. I lived in IL all of my life up until August 08 and then i moved to Hawaiii which is where i'm at now. I've never recieved a form like this before. I was unemployed Feb 08-May08 but wasn't awarded unemployment benefits. In "box 2" it has $60.00 and says this amt was reported to the IRS and may be taxable to if you deducted the tax paid as an itemized deduction on your federal income text return 2007. Can anyone explain this to me?
- Anonymous1 decade agoFavorite Answer
This is just the state telling you that last year you got a refund from them them. So if you look at your 2007 IL-1040, you should show a refund of $60.
Did you own your own home last year? Did you itemize deductions on federal from Schedule A? If no to these, then most likely you will not need to claim that $60 as income.
Quoted from the link below:
"What is a 1099-G?
Form 1099-G is mailed as a reminder of any overpayment from the Illinois Department of Revenue during the prior year. The overpayment amount listed include all refunds, credits, check-off contributions, and any overpayments that may have been credited to an outstanding balance. You can find out more information by referring to our 1099-G Certain Government Payments Inquiry. You may need to report these amounts on your federal income tax return as income. If you are unsure about reporting this to the Internal Revenue Service, please contact them by writing:"
But keep the form! Take it with you when you get your taxes done, just in case you do need it. It would also help your tax advisor if you had a copy of last year's tax return, especially since you are in a new state.
Shannon Coley - H&R Block - Senior Tax Advisor 5 - IL
** This advice was prepared based on my understanding of the tax law in effect at the time it was written as it applies to the facts that you provided. Click on my profile to read more.Source(s): State of Illinois website http://www.revenue.state.il.us/Individuals/w2.htm
- Anonymous1 decade ago
It sounds like you may have received an income tax refund from Illinois State in 2008 for $60.
You do not have to put it on your federal tax return unless you itemized your deductions in 2007, and deducted the Illinois tax that was withheld from your paychecks.
Most people are cash basis taxpayers. That means you deduct expenses when you pay for them and pay tax on money when you receive it.
If you itemize your deductions, you can deduct state income tax withheld the year it is taken out of your check (when it's paid for.) If you later get a refund of some of that money when you file your state return, you must include that in your federal income for the year you receive it.
Again, if you didn’t itemize your deductions in 2007 and deduct any of those taxes paid to the state, then you don’t have to report any income when Illinois sends some of that money back to you.
Hope this helps!
Kimm Jeffries, Enrolled Agent
As a tax professional, I am required to include the following special announcement :)
This advice was prepared based on our understanding of the tax law in effect at the time it was written as it applies to the facts that you provided. Click on my profile to read more.
- KayLv 61 decade ago
1099-G from IL is the state tax refund you had received on your 2007 IL state income tax return. The amount is taxable and you need to include it on your 2008 federal income tax return.
Hope this helps.
- 5 years ago
It can be for other things too. Did you get a state refund last year for that amount? If you did but you didn't itemize for federal last year, you can just ignore it - if you itemized and deducted state tax, then the 1099G refund amount is "other income" on your federal return this year.
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- PureOrLadyLv 41 decade ago
I am going to assume a tax credit? from the state of IL
- janethLv 45 years ago
Thanks for the answers.