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- Re: Parental Choice Tax Credit for Oklahoma 1099G
Parental Choice Tax Credit for Oklahoma 1099G
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fallintax67
Level 1
03-11-2025
07:59 PM
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Someone please tell me in ProSeries how we are suppose to enter the 1099G that states tax year 2024, for the parental choice tax credit!
I can't figure out how or where to enter it on the Federal 1040, or if we are even supposed to. I know it is a tax credit for the state of Oklahoma, but not sure if this is taxable on federal side.
Nobody seems to know where this goes and I can see that turbo tax seems to have more guidance than ProSeries does for tax preparers. Called the state of Oklahoma and they say we need to talk to the tax professional...LOL Please anyone have suggestions????
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3 Comments 3
Just-Lisa-Now-
Level 15
03-11-2025
08:05 PM
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heres the discussion over in TT
♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
fallintax67
Level 1
03-11-2025
08:07 PM
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Thank You for that information. I will check in on that and see.
janicek
Level 1
03-22-2025
06:35 PM
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* OK statute is treating this payment as a "State Income Tax Refund" -- so close your eyes and put it in whatever income data input slot you have for "State Tax Refunds"
* Whether it is IRS taxable and how much will be determine by "tax benefit" for 2024 -- don't get hung up trying to match 2023 with 2024 and 2025 --- trust the software --- chances are high it will not be taxable at the IRS level when the calculations are made because you did not get a tax deduction benefit.
* Also, remember OK taxable income starts at Federal AGI -- so if not taxable federal, not taxable OK. Now if a portion of it is taxable IRS, have to adjust it as non-taxable on OK -- there's a spot for it.
* Most of all -- IRS computers will be "matching" so you need to put that 2024 1099G amount where it can find it on the 2024 tax return -- if you logically leave it off, etc -- could generate a CP2000 letter in six to nine months and the IRS will be asking for taxes on that 1099G amount.....
