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Submitted By: someone
Answered: March 17, 2023 2:46 am
Answered: March 17, 2023 2:46 am
In 2022, I received a middle class tax rebate from my state (California). Is this taxable?
No. The IRS recently said that special tax payments related to the pandemic made by states are not includible in gross income. The IRS looks at the payments as falling under either the general welfare exclusion or as nontaxable disaster relief payments.
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Tax Glossary
Deductions
Items directly reducing income. Personal deductions such as for mortgage interest, state and local taxes, and charitable contributions are allowed only if deductions are itemized on Schedule A, but deductions such as for alimony, capital losses, moving expenses to a new job location, business losses, student loan interest, and IRA and Keogh deductions are deducted from gross income even if itemized deductions are not claimed.
