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hadleyjordy
New Member

Can I claim a deduction for paying previous years installment agreement taxes last year.

 
2 Replies
ee-ea
Level 13

Can I claim a deduction for paying previous years installment agreement taxes last year.

For federal taxes you can not  For state taxes you can .

Mike9241
Level 15

Can I claim a deduction for paying previous years installment agreement taxes last year.

to clarify. state taxes but not any penalties and interest paid in 2020 regardless of the year they're for would be deductible for federal purposes but not for state purposes.   a few states allow a deduction of federal taxes paid but again not penalties or interest in computing the state's income taxes. 

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