The 2024 Alaska PFD includes $298.17 energy relief credit. Is this portion non-taxable?

[TaxGuyBill]

I don't have an official source, but both TurdoTax and TaxSlayer seem to indicate that portion is not taxable.

HOWEVER, that could be based on old information from the tax-free state Covid help (Alaska also has the energy rebate in 2022, which qualified to be tax-free).

https://ttlc.intuit.com/turbotax-support/en-us/help-article/state-taxes/enter-alaska-energy-relief-p...

https://support.taxslayerpro.com/hc/en-us/articles/8772996566042-Alaska-Permanent-Fund-Dividend-Taxa...

[BCK1]

The $298.17 for energy relief is non taxable income for 2024

[o_mannetje]

From the IRS: The 2024 Publication 525 has been revised to clarify that Alaska taxpayers must report the entire 2024 Alaska Permanent Fund Dividend payment amount, to include the energy relief payment portion. The entire $1,702 Alaska Permanent Fund Dividend payment for 2024 is taxable for federal income tax purposes and should be reported as income on Schedule 1 (Form 1040), line 8g.

link to IRS clarification:

https://www.irs.gov/forms-pubs/clarification-about-alaska-permanent-fund-dividends

[TaxGuyBill]

Thanks for the update!

I see the links I gave above updated their information as well.

[PATAX]

@o_mannetje Good job.