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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 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.
How can I deduct property taxes in California on my tax return?
To deduct property taxes in California on your tax return, you can itemize your deductions on Schedule A of your federal tax return. Include the amount of property taxes paid on your California property in the "Taxes You Paid" section. Be sure to keep records of your property tax payments for documentation.
Is it possible for me to deduct medical expenses that were paid by someone else?
No, you cannot deduct medical expenses that were paid by someone else on your tax return.
Can I deduct points on a new mortgage from my taxes?
Yes, you can deduct points paid on a new mortgage from your taxes, as long as the loan is used to buy or improve your primary residence.
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 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.
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.
How can I deduct property taxes in California on my tax return?
To deduct property taxes in California on your tax return, you can itemize your deductions on Schedule A of your federal tax return. Include the amount of property taxes paid on your California property in the "Taxes You Paid" section. Be sure to keep records of your property tax payments for documentation.
May I deduct the amount of underpayment paid for previous years tax return?
You do NOT get any deductions on your 1040 income tax return for the payments that you make on your past due federal income taxes, penalties, or interest.
Can you deduct the interest paid on state taxes on your federal income taxes?
yes
Is it possible for me to deduct medical expenses that were paid by someone else?
No, you cannot deduct medical expenses that were paid by someone else on your tax return.
Can I deduct points on a new mortgage from my taxes?
Yes, you can deduct points paid on a new mortgage from your taxes, as long as the loan is used to buy or improve your primary residence.
Can you deduct points on a mortgage when filing your taxes?
Yes, you can deduct points paid on a mortgage when filing your taxes, as long as the points were used to obtain the mortgage on your primary residence.
What are the California itemized deductions for property tax?
California allows taxpayers to deduct property taxes as an itemized deduction on their state income tax return. This deduction includes property taxes paid on real estate owned in California, as well as any personal property taxes paid on items like vehicles or boats.
Can I deduct general sales tax from items purchased out of resident state?
yes i did it. On your Federal return you may deduct State Sales Taxes paid in lieu (that is instead of) State income taxes paid. This is only advantageous if you have a very large amount of sales tax for a year (like you buy a plane or expensive new cars, etc), or - and this is why they out the provision in, you live in a State that doesn't have an income tax.
Bought Home in Jun 2007 Paid Property tax for 2007 4000 in 2008 and 4000 for 2008 in 2008 Do you Deduct 8000 ie full 07 and full 08 or 6000 ie for half 07 and full 08?
You deduct the actual amount you paid in property taxes during calendar year 2008, no matter what year it was for. If you paid it in 2008, you deduct it in 2008. Of course, you subtract any amount that the previous owner reimbursed you at closing.
