Discussion:1040, Sch A, itemized deductions: State & Local Taxes
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Discussion Forum Index --> Basic Tax Questions --> 1040, Sch A, itemized deductions: State & Local Taxes
Discussion Forum Index --> Tax Questions --> 1040, Sch A, itemized deductions: State & Local Taxes
NoSpam20092 (talk|edits) said: | 3 April 2009 |
| Can someone confirm if this is true?
On 1040, Schedule A, Itemized Deductions. TAXES YOU PAID category. For "State and Local Incomes Taxes" - this can actually include the balance of year 2007 return state+local income taxes that were paid in 2008??? I thought only the state+local estimated taxes for 2008 that were actually paid in 2008 plus any year 2008 W2 state+local taxes only. I didn't know we can also add the balance of year 2007 state+local taxes that were paid in 2008. Is that correct? Thanks. | |
| 3 April 2009 | |
| Wayne, cash method, as you must know, means you deduct whatever payments were made during the tax year regardless of what year they were for. By the way, you forgot to list the 2007 estimated tax payment that was made in Jan. 2008. -- Larry Hess, CPA | Albuquerque, NM | |
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