Will my CA rebate go out as a 1099-G ?

[Thousand Oaks CNGer]

Anybody know if my $3000 CA rebate will be considered CA income, and thus a 1099-G sent out?

I am trying to get my taxes in before the magical Feb 1, when all refunds will turn into pumpkins(or IOU's..take your pick). The state doesn't release the 1099-G's until after 1/31.

Thanks

[robm]

Re: Will my CA rebate go out as a 1099-G ?

My Utah Non-refundable Tax Credit came back this year (2009) on my 1099-G. It would appear that the state is saying: "Please buy a Natural Gas vehicle. If you do, we'll give you $2500. But, next year we'll take some of that back in taxes." Doesn't seem to make sense to me. Does anyone know if there is a way to not have this tax credit appear as a taxable refund? Is everyone else seeing the same thing, your 1099-G from the state including that credit as a normal refund? What did you guys do who bought your cng vehicles in 2007, when you did your 2008 tax return? Any help or comments on this would be appreciated.

Thanks

[lcovelli]

Re: Will my CA rebate go out as a 1099-G ?

Anybody know if my $3000 CA rebate will be considered CA income, and thus a 1099-G sent out?

I am trying to get my taxes in before the magical Feb 1, when all refunds will turn into pumpkins(or IOU's..take your pick). The state doesn't release the 1099-G's until after 1/31.

Thanks

Hey There,
Yes it will. I got my 1099-G in the mail for my 2009 GX and ironically it was for 1099.00..

By any chance, do you work for Amgen? Tt seems taht everyone from T-Oaks works there..
Luigi

[CNGLO]

Re: Will my CA rebate go out as a 1099-G ?

Your 1099G (that you likely received in 2010) for a tax credit that you received in 2009 is for a credit against 2008 taxes that you paid to the state. On your 2008 1040, you told the IRS that you paid X amount in state taxes, and likely included the 2008 state tax payment in your itemized deductions. The IRS requires you to report to it those 2008 state taxes that were refunded to you in 2009. It is the same every year for all tax state tax refunds that you receive. Utah does not tax you on Utah tax refunds. The IRS only taxes you on a state refund (or credit) if you claimed the earlier state tax payment as a deduction against federal taxes. Utah does, likewise, tax you on federal tax refunds that you receive if you earlier claimed them as a deduction against Utah taxes. We can run, but we cannot hide.

[robm]

Re: Will my CA rebate go out as a 1099-G ?

Thanks, that makes some sense. However, about Utah not taxing us on a state refund. Doesn't the state just use the AGI from our federal tax return in order to calculate our taxes? And if so, doesn't that AGI on the federal return include the state refund as income?

[CNGLO]

Re: Will my CA rebate go out as a 1099-G ?

Thanks, that makes some sense. However, about Utah not taxing us on a state refund. Doesn't the state just use the AGI from our federal tax return in order to calculate our taxes? And if so, doesn't that AGI on the federal return include the state refund as income?

The Utah tax form starts with the federal 1040 AGI, then backs out the state tax refund by having you subtract it from your income.