0
Absolutely not. Bankruptcy payments are repayments for debts that you incurred in the past and did not pay. There is no circumstances where these could be deductible on your income taxes.
Wiki User
∙ 8y ago
Add your answer:
Earn +20 pts
Are income tax payments deductible?
State income tax payments are deductible on your federal income tax return. (You may deduct state income tax or sales tax, but not both.) Federal income tax payments are deductible on your state tax return in a tiny number of states.
Are federal tax payments deductible expenses for a corporation?
No
Is credit card interest payments tax deductible?
NO The personal interest is never deductible on your 1040 federal income tax return
Are house rental payments tax deductible?
No, sorry. That's why owning a house is better for tax purposes but even then the principal payments are not deductible, only the interest on each one added over the whole year.
Are state income tax payments deductible on a corporate tax return?
Yes. State income (and net worth based) taxes are deductible from taxable income for Federal income tax purposes.
Are income tax payments deductible?
State income tax payments are deductible on your federal income tax return. (You may deduct state income tax or sales tax, but not both.) Federal income tax payments are deductible on your state tax return in a tiny number of states.
Is spousal support tax deductible?
Spousal support payments would not be deductible on your income tax return. Only Alimony payments would be deductible on your 1040 income tax return.
Are tax payments deductible?
Estimated Income tax payments are not deductible in figuring out what your taxable income is, that determines how much your actual income tax is. See, that's circular.
Are payments made to IRS through a chapter 13 bankruptcy deductible?
No. Federal tax due is never tax deductible from taxable income that determines tax due. (That would be circular). How they are made, on time, late, electronically, under protest, under BK makes no difference.
Are federal tax payments deductible expenses for a corporation?
No
Is credit card interest payments tax deductible?
NO The personal interest is never deductible on your 1040 federal income tax return
Are house rental payments tax deductible?
No, sorry. That's why owning a house is better for tax purposes but even then the principal payments are not deductible, only the interest on each one added over the whole year.
Are state income tax payments deductible on a corporate tax return?
Yes. State income (and net worth based) taxes are deductible from taxable income for Federal income tax purposes.
If you are current with your bankruptcy payments will the IRS keep your income tax check?
No
Are automobile lease payments tax deductible?
Not on personal leases, sometimes on business leases (as an expense).
How does child support payments effect your income taxes?
It's neither taxable, or tax deductible.
Are medicare supplement insurance payments tax deductible?
http://www.medicaresupplementnews.com/]Medicare Supplement News
