Interest/Dividends/Other Types of Income > 1099 Information Returns (All Other)

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Frequently Asked Tax Questions

Interest/Dividends/Other Types of Income - 1099 Information Returns (All Other)

Rev. date: 1/1/2011

I received a Form 1099-G, for my state tax refund. Do I have to include this amount as income on my return?

1099 Series of Forms
Form 1099-G
State Tax Refund
State Taxes
Tax Refund

Whether or not you have to report your state income tax refund on your federal income tax return depends on if you itemized your deductions using Form 1040, Schedule A:

If you did not itemize your deductions on your Federal tax return for the same year to which the state or local tax refund applies, do not report any of the refund as income.
If you received a refund of state or local income taxes this year for which you took an itemized deduction in an earlier year, you may have to include all or part of the refund as income on your tax return.
Report your taxable State or Local Refunds on line 10 of the Form 1040 (PDF). You cannot use Form 1040A (PDF) or Form 1040EZ (PDF).

Additional Information

Form 1040 Instructions Publication 525 Taxable and Nontaxable Income

Rev. date: 1/1/2011

Are the amounts a taxpayer receives from a "reverse mortgage" taxable or non taxable income? I've looked in publications 525, 936, 530 and 17 and couldn't find any relevant information.

Reverse Mortgages

A reverse mortgage is a loan. The amounts received from a "reverse mortgage" are not taxable income.

The primary purpose of a reverse mortgage loan is to enable elderly persons with limited incomes to remain in their homes.
Repayment of a reverse mortgage loan is due when the residence that secures the loan is sold,
The borrower dies, or
The borrower ceases to use the home as the borrower's principal residence.

Additional Information

Reverse Mortgage FAQs

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