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Surprise! Your tax return is taxable in certain cases. Because you can never when. Rather than outline when it is taxable, here’s when it is not. You can find the numbers on the 1099-G form that you got with your return.

  • Instead of using itemized deductions on your taxes, you used the standard deduction.

  • You did itemize, but chose to deduct state and local general sales tax instead of income taxes.

  • You, for whatever reason, did not deduct your state and local taxes the year before (usually, this means an Alternative Minimum Tax issue). So now, you do not have to claim the income as, well, income (you’ve already paid taxes).

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If you already paid taxes on your public pensions by including them on your federal forms, you do not have to pay again. If your pension qualifies (again, public only), you can deduct the income and not be charged double tax.

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Somehow, this is exactly what you entered on Line 15

1040

1040A

1040EZ

  • Wrong return…

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Unreviewed Annotation 1 Contributor ?

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If you contribute to a 529 savings plan, you can enjoy a nice tax benefit! Since these are state plans, you did not claim a deduction for this on your federal taxes. Here, you can claim the total amount deposited, up to $5,000 (or $10,000 if married filing jointly). Take that to the bank!

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