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Will we add in current year tax return, the interest $8.50 received in last year tax...

Question

Will we add in current year tax return, the interest $8.50 received in last year tax...

Will we add in current year tax return, the interest $8.50 received in last year tax refund ?

Answers

Yes.

The interest of $8.50 received on last year’s tax refund is an income and hence is required to be added in the current year’s tax return and offered for tax.


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