Chart of Accounts Income Tax Refund

by Shari
( Nampa, ID)

Chart of Accounts Income Tax Refund

Chart of Accounts Income Tax Refund

Which account should an income tax refund go to on the Chart of Accounts?

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Jan 03, 2018
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Chart of Accounts Tax Refund
by: Stephanie

Hello Shari,

Thank you for your question about which account an income tax refund should be categorized to on the Chart of Accounts.

If you are a sole proprietor and are receiving an income tax refund that you are depositing into the business, it would go into the Owners Contribution (equity) account.

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