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Can I deduct federal taxes paid for a prior year on my current tax return?
No, you cannot deduct federal taxes paid for a prior year on your current tax return.
Can I deduct state income tax on my federal return?
Yes, you can deduct state income tax on your federal tax return if you itemize your deductions instead of taking the standard deduction.
Can I deduct state taxes paid for the previous year on my tax return?
Yes, you can deduct state taxes paid for the previous year on your tax return if you itemize your deductions instead of taking the standard deduction.
Can I deduct back state tax payments on my tax return?
Yes, you can deduct state tax payments on your federal tax return if you itemize your deductions.
Can I deduct points on a refinance from my taxes?
No, you cannot deduct points on a refinance from your taxes.
Can you deduct the interest paid on state taxes on your federal income taxes?
yes
Can you deduct the amount you pay your tax account?
I am not sure what you mean by this or what kind of tax account you may be referring to.On your federal income tax return, you may deduct payments of various types of state and local taxes that are imposed on you within limitations. These include real estate, state and local income taxes, and sales taxes (but not both sales taxes and income taxes). You may not deduct federal incomes taxes. You may not deduct interest or penalties.A few states let you deduct federal income taxes on your state return.
Will I be able to deduct a portion of my local property taxes from my NY state income tax?
No. However, you can deduct property taxes from your federal tax liability.
How many years can you deduct state income payments from your federal taxes?
20
Can federal taxes withheld be tax deductible?
You cannot deduct withheld federal taxes on your federal income tax return. There are some states that allow the deduction of withheld federal taxes on the state income tax return.
Can I deduct federal taxes paid for a prior year on my current tax return?
No, you cannot deduct federal taxes paid for a prior year on your current tax return.
Can you deduct tuition you pay for your grandson on your federal taxes?
Yes.
Can you deduct money given to your child as a gift on your Federal taxes?
yes i would deduct money to my child.
Can state sales tax be deducted from your taxes?
According to the IRS, if you itemize deductions on your federal return you may deduct either state and local incometaxes or state and local sales taxes. You get to choose which to deduct, but you may not deduct both, and you can't deduct either unless you itemize deductions.Chances are pretty good that unless your state has low income tax rates and fairly high sales tax rates, you'll be better off deducting the income taxes instead, but you do have the option.
I had to pay money to state and federal last year. Can that money be claimed on this years taxes?
how much is $60 add tax You can deduct the 2009 State Taxes you paid in 2010 on Schedule A (if you itemize). Federal tax payments are not deductible according to the IRS Website
Can you count your tax payment from a previous year's taxes on the current tax form?
If you are talking about your amount paid with your federal tax return, the answer is no. You cannot deduct your previous years federal income tax on your current years tax return. You can deduct on Schedule A the amount paid on your State income tax return if you itemize your taxes.
What are the percentage rates for federal income taxes?
What federal income tax percent should my employer deduct from my wages
