A taxpayer receives several Form(s) 1099-G for various taxable state refunds. They are all included in federal
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Question:
A taxpayer receives several Form(s) 1099-G for various taxable state refunds. They are all included in federal gross income. Which of the following statements is accurate?
Select one:
a. All of the state refunds are also considered taxable to California, regardless of source.
b. The California state tax refund is excluded, but the non-California ones are included.
c. The California state tax refund is excluded for a nonresident taxpayer only.
d. The state income tax refunds are not taxable income to California.
Related Book For
Fundamentals of corporate finance
ISBN: 978-0470876442
2nd Edition
Authors: Robert Parrino, David S. Kidwell, Thomas W. Bates
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