Hello members...
So I claimed the $5000 state credit for Leaf when I filed my 2013 taxes few weeks back. Am I right in assuming that this $5000 will be reported in my 1099G (state tax refund / credit) and hence I need to pay federal taxes on it when I file for year 2014?
A tax consultant also seems to have told one of my friends the same...
Thanks
So I claimed the $5000 state credit for Leaf when I filed my 2013 taxes few weeks back. Am I right in assuming that this $5000 will be reported in my 1099G (state tax refund / credit) and hence I need to pay federal taxes on it when I file for year 2014?
A tax consultant also seems to have told one of my friends the same...
Thanks